Excise Duty Subject – Economy Context – Petroleum products: Excise collection 79% more than pre-Covid levels Concept – This is a duty on manufactured goods, which is levied at the time of manufacture. A part of indirect tax, excise duty is a levy on particular goods and is collected at the point of […]

    EXCISE DUTY Subject : Economics Context : Bringing petrol and diesel under GST will not lower fuel oil prices by itself, unless both Union and state governments are willing to take deep revenue cuts. Concept : Excise duty is a form of tax imposed on goods for their production, licensing and sale. It […]

    Excise duty Subject: Economy Context: Rising oil prices has led to demand for reduction in excise duty by the Central government. Concept: Excise duty is a form of indirect tax paid to the Government of India imposed on goods for their production, licensing and sale. Unlike this custom duty levied on those coming […]

    Excise Duty Subject: Economy Concept: Excise duty is a form of tax imposed on goods for their production, licensing and sale. An indirect tax paid to the Government of India by producers of goods, excise duty is the opposite of Customs duty in that it applies to goods manufactured domestically in the country, […]