There is always confusion and less knowledge about the central excise duty on different products. The excise duty is vary from product to product and in manufacturing line, it is necessary to know the excise duty rate well before the start of production. In this annual budget, the rates of excise duty have been increased to 12% from the existing 10%. This rate will be applicable from 01-04-2012. But it is not that all the products have similar excise duty. The excise duty can be different in these points which are as under.
Thursday, March 22, 2012
Nitin Aggarwal central excise
- Totally exempt excise duty such as tea and condensed milk.
- 1% excise duty on the products which have the facility of less excise duty like articles of jewellery.
- 3% excise like gold
- 6% excise on paper, cotton and biscuits etc.
- 12% excise on motor vehicles
- Production base excise duty on aluminum circles and trimmed and untrimmed circles of copper.
- High excise duty on large cars, cigarettes and tobacco products.
So there is a complete list of excise duty products as well as no excise duty products with rate of duty on different products.
See the complete list from here