TaxTMI 
TaxTMI 
TaxTMI 
Central Excise Duty ?.......
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....entral Excise Duty ?.......<br> Query (Issue) Started By: - Deepak Singh Dated:- 16-5-2011 Last Reply Date:- 29-5-2011 Central Excise<br>Got 1 Reply<br>Central Excise<br>Dear Officer, In need a clarification regarding what is centra excise duty and why reason this high % rate in excise duty and also please confirm what is diffrent between other VAT and serices tax Regards Singh D Reply By prad....
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....eep khatri: The Reply: Dear Deepak, Central Excise Duty is a tax on manufacturing of goods. The whole gamut started in 1944 when the British Ruler had taxed the Salt........ and there was agitation by our Father of Nation 'Mr. Gandhi... Earlier Central excise duty was governed by Central Excise and Salt Act, 1944. But the word 'salt' was removed by the India Government. Earlier the rate of C.E D....
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....uty used to be more than 70-80% which subsequently reduced to peak tax @ 10%. I don't think that we are paying a high rate of duty in comparison with earlier period. VAT is value Added Tax and it is levied on the value addition of the goods during it's sales. The VAT has replaced the Sales Tax. It is also known as consumption tax and helped to remove the cascading affect of the tax paid at earlie....
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....r stage of value addition. Haryana was the first state in India to implement it in year 2003. Soon GST will replace Excise, VAT and Service Tax. Service tax is levied on the taxable services. Generally Service provider is liable to pay service tax duly collected from service receiver. But there is 3-4 scenario under which service recepient is deemed to be service provider and liable to pay the se....
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....rvice tax. Currently rate of service tax is 10% and Edn Cess @ 2% + SHE Cess is @ 1% . Hope this will clarify your query. Further, through this platform, raise more querries. It will enrich your knowledge. Best of luck and God bless you! Regards Pradeep Khatri<br> Discussion Forum - Knowledge Sharing ....