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What Is The Taxable Event In Central Excise? |
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Answer» MANUFACTURE or production of excisable goods in India is taxable event. CENTRAL excise duty is charge on manufactured goods & not on sale of goods that means even if goods are not sold, excise duty should be payable on it. CAPTIVE consumption, free sample, intermediary goods ETC. are also liable to central excise duty even from these goods no REVENUE is generate. An ownership criterion is irrelevant in paying excise duty. Case Duty is payable at the time of Goods are manufactured. Manufacture or production of excisable goods in India is taxable event. Central excise duty is charge on manufactured goods & not on sale of goods that means even if goods are not sold, excise duty should be payable on it. Captive consumption, free sample, intermediary goods etc. are also liable to central excise duty even from these goods no revenue is generate. An ownership criterion is irrelevant in paying excise duty. Case Duty is payable at the time of Goods are manufactured. |
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