B Com Exam > B Com Notes > Indirect Tax Laws > Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws
Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws | Indirect Tax Laws - B Com PDF Download
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What is tax ?
- Tax is nothing but money that people have to pay the Government, which is used to provide public services.
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What is the objective of tax collections?
- Though the collection of tax is to augment as much revenue as possible to the Government to provide public services, over the years it has been used as an instrument of fiscal policy to stimulate economic growth. Thus it is one of the socio-economic objectives.
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Are there different types of taxes?
- Yes, there are. Some taxes are direct and others are indirect. Under our constitution, while the Central Government is vested with the powers of levy and collection of certain taxes, the State Governments are empowered to levy and collect certain other type of taxes.
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What are direct and indirect taxes?
- If the taxpayer bears its incidence and is not able to pass on the burden, such tax is direct tax. Example: - Income Tax, Wealth Tax, Gift Tax etc. If the taxpayer is just a conduit and every stage the tax-incidence is passed on till it finally reaches the consumer, who really bear the brunt of it, such tax is indirect tax. Example: - Excise Duty, Customs Duty, Sales Tax etc.
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What is Excise Duty?
- Excise Duty is an indirect tax levied and collected on the goods manufactured in India.
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Who is responsible to pay such duty to the Government? What are the relevant enactments governing levy and collection of central excise duty?
- Generally, manufacturer of goods is responsible to pay duty to the Government. This indirect taxation is administered through an enactment of the Central Government viz., The Central Excise Act, 1944 and connected Rules - which provide for levy, collection and connected procedures. The rates at which the excise duty is to be collected are stipulated in the Central Excise Tariff Act, 1985.
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Is it mandatory to pay duty on all goods manufactured?
- Yes, it is mandatory to pay duty on all goods manufactured, unless exempted. For example, duty is not payable on the goods exported out of India. Similarly exemption from payment of duty is available, based on conditions such as kind of raw materials used, value of turnover (clearances) in a financial year, type of process employed etc.
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Which organ of the Central Government is entrusted with the collection of Central Excise Duty? What are the other responsibilities entrusted with the Central Government Department?
- The Central Excise Department spread over the entire country administers and collects the central excise duty. The apex body that is responsible for the policy and formulation of connected rules is the Central Board of Excise and Customs which functions under the control of the Union Finance Ministry. There are about 60,000 staff and officers including 1500 officers in Group A level and 5,000 officers in Group B level in the Department. The Central Excise officers are also entrusted with the administration and collection of Service tax, Additional Excise Duty in lieu of sales tax on goods of special importance and Additional Excise Duty on textiles and articles of textiles, etc. and the Customs duty. The Central Excise officers are also armed with NDPS Act in the suppression of illicit trafficking in narcotic drugs and psychotropic substances. They are also entrusted with the task of enforcing various allied enactments like the Foreign Trade Regulation Act, the Foreign Exchange Regulation (now Management) Act, the COFEPOSA Act,
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FAQs on Central Excise Duty - Central Excise Act,1944, Indirect Tax Laws - Indirect Tax Laws - B Com
| 1. What is Central Excise Duty? |  |
Ans. Central Excise Duty is an indirect tax levied on the manufacturing or production 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 or production and is paid by the manufacturer or producer of the goods.
| 2. How is Central Excise Duty calculated? | |
Ans. Central Excise Duty is calculated on the basis of the assessable value of the goods. The assessable value is determined based on the transaction value of the goods or the value arrived at through other prescribed methods. The duty rate is specified by the government and is applied to the assessable value to calculate the excise duty payable.
| 3. What are the objectives of the Central Excise Act, 1944? | |
Ans. The Central Excise Act, 1944 has several objectives, including:
- To levy and collect excise duty on the manufacture or production of goods in India.
- To regulate the manufacturing or production of goods to ensure compliance with quality standards and safety regulations.
- To provide a legal framework for the administration and enforcement of central excise laws.
- To facilitate the smooth functioning of the excise duty collection process and prevent evasion.
| 4. Are there any exemptions or concessions under Central Excise Duty? | |
Ans. Yes, there are various exemptions and concessions available under Central Excise Duty. These exemptions may be provided for specific goods, industries, or categories of manufacturers. For example, certain essential goods like medicines and medical devices may be exempted from excise duty. Additionally, small-scale industries may be eligible for concessional rates or exemptions based on their turnover or production capacity.
| 5. What are the consequences of non-compliance with Central Excise laws? | |
Ans. Non-compliance with Central Excise laws can have serious consequences. Some of the possible consequences include:
- Imposition of penalties, which may be a fixed amount or a percentage of the duty evaded.
- Prosecution of the offender, which can lead to imprisonment.
- Seizure of goods and assets involved in the non-compliant activity.
- Suspension or cancellation of the manufacturer's or producer's excise registration.
- Additional interest on the unpaid excise duty amount.
- Adverse impact on the reputation and credibility of the manufacturer or producer.
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