Excise duty is an indirect tax or duty charged on goods manufactured in India goods are intended to be produced to sale domestically. The goods is taxable either at the time of manufacturing or on the removal of goods, the term removal means , moving goods from factory to any approved location after the manufacturing process is completed.
Excisable Goods means goods specified in the schedule to the Central Excise Tariff Act, 1985 as being subject to a duty of Excise.A goods is said to be excisable, it must satisfy the following conditions.
- Goods must be movable.
- Goods must be marketable.