Excise duty is contrary to that of custom duty, well, both are levied on products and good items but from different point of view, Excise duty is levied on inland taxes where as custom duty is levied on border taxes. Excise duty is the concern authority that regulates and manipulates all the tax policies on the sale or on the products and goods produced for the sale within the country boundaries. Despite of income tax, it is another tax that concern to be as one of the major sources of income to the government. Well, it is essential for every corporate house to be indulged with excise tax registration in order to legitimate their business operation. Excise duty is one of the powerful tools to protect the corporate world from any types of illegal production of goods with the boundaries of country which is now popularly known by Central Value Added Tax.
There are three types of excise duties that are usually deducted from the production of sale. First is Basic excise duty which is deducted under section 3 of the 'Central Excises and Salt Act' of 1944; Second Additional excise duty which is charged under Section 3 of the 'Additional Duties of Excise Act' of 1957; Thirdly Special excise duty that is charged under Section 37 of the Finance Act, 1978.
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