B Com Exam > B Com Videos > Indirect Tax Laws > Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws
Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws Video Lecture | Indirect Tax Laws - B Com
|
50 videos|54 docs
|
FAQs on Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws Video Lecture - Indirect Tax Laws - B Com
| 1. What is Central Excise Duty? |  |
Ans. Central Excise Duty is a type of indirect tax levied on the production or manufacture of goods in India. It is governed by the Central Excise Act, 1944. The duty is imposed at the time of removal of goods from the place of manufacture and is paid by the manufacturer or producer.
| 2. What is the objective of the Central Excise Act, 1944? | |
Ans. The Central Excise Act, 1944 aims to provide a legal framework for the levy and collection of central excise duty. It establishes the powers and procedures for the assessment, determination, and collection of duty. The Act also sets out the penalties and offenses related to the non-compliance of excise duty obligations.
| 3. How is Central Excise Duty calculated? | |
Ans. Central Excise Duty is calculated based on the value of the goods manufactured or produced. The value of the goods is determined as per the provisions of the Central Excise Valuation Rules. The duty rate is applied to this value to calculate the amount payable. The duty rate may vary depending on the nature of the goods.
| 4. Can Central Excise Duty be claimed as an input tax credit? | |
Ans. Yes, Central Excise Duty paid on inputs used in the manufacturing process can be claimed as an input tax credit. This credit can be utilized to offset the liability of Central Excise Duty on the final goods. However, certain conditions and restrictions apply, and the manufacturer needs to comply with the prescribed documentation and record-keeping requirements.
| 5. What are the penalties for non-compliance with Central Excise Duty provisions? | |
Ans. Non-compliance with the provisions of Central Excise Duty can attract penalties under the Central Excise Act, 1944. The penalties may include fines, confiscation of goods, cancellation of registration, and prosecution. The severity of the penalty may depend on factors such as the nature of the offense, intent, and repeat violations. It is important for manufacturers to ensure compliance with the excise duty obligations to avoid such penalties.
Related Exams
About this Video
|
4.73/5 Rating |
|
Dec 23, 2024 Last updated |
Video Description: Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws for B Com 2024 is part of Indirect Tax Laws preparation.
The notes and questions for Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws have been prepared according to the B Com exam syllabus.
Information about Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws covers all important topics for B Com 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws.
Introduction of Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws in English is available as part of our Indirect Tax Laws for B Com & Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws in
Hindi for Indirect Tax Laws course. Download more important topics related with notes, lectures and mock test series for
B Com Exam by signing up for free.
Description
Video Lecture & Questions for Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws Video Lecture | Indirect Tax Laws - B Com - B Com full syllabus preparation | Free video for B Com exam to prepare for Indirect Tax Laws.
Information about Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws
Here you can find the meaning of Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws defined & explained in the simplest way possible.
Besides explaining types of Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws theory, EduRev gives you an ample number of questions to practice Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws tests,
examples and also practice B Com tests.
|
50 videos|54 docs
|
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Previous Year Questions with Solutions
,shortcuts and tricks
,1944
,Indirect Tax Laws Video Lecture | Indirect Tax Laws - B Com
,mock tests for examination
,1944
,Sample Paper
,Indirect Tax Laws Video Lecture | Indirect Tax Laws - B Com
,Exam
,Viva Questions
,ppt
,practice quizzes
,Indirect Tax Laws Video Lecture | Indirect Tax Laws - B Com
,Free
,past year papers
,Objective type Questions
,Summary
,MCQs
,Extra Questions
,study material
,1944
,Important questions
,Central Excise Duty - Central Excise Act
,Semester Notes
,Central Excise Duty - Central Excise Act
,video lectures
,Central Excise Duty - Central Excise Act
;
Study Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws on the App
Students of B Com can study Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup