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What is Excise Duty and excisable goods?

What is Excise Duty and excisable goods?
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Excise Duty

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

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.

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