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Mukesh Raj & Company
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Custom ExciseCustoms Excise DutyCustoms Excise
Home » Indirect Tax Services » Custom Excise Consultancy

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Custom Excise Consultancy

Custom Excise Consultancy Services offered by us involves handling the requirements of Custom excise duty that is levied on import of goods into India at rates specified in Customs Tariff Act, 1975. The Custom excise duty in India comprises Basic Customs Duty (BCD), Countervailing Duty (CVD), Additional Duty of Customs (ADC) and Education Cess. Here, our team of experts makes us well qualified to handle the consultancy demands.

Further, the custom tax advisory services also involves service areas including –

Presently, we are successfully serving the customers based in services, IT and manufacturing sector who find our services extremely beneficial and useful. As service providers for service tax, we hold expertise in handling all issues in relation to service tax, central excise and customs that is based on completely outsourced model. Further, our strong and comprehensive service support that arises from arising out of better understanding of service tax related issues has also helped customers to save significant amount.

Custom excise duty are levied on import of goods into India at the rates specified in the Customs Tariff Act, 1975. The effective rates of customs duties may vary pursuant to general and / or specific exemption or concession notifications issued by the government in this regard.

Custom excise duty in India currently comprise the following:
In addition, government also levies anti-dumping and safeguard duties on specified products for specified periods. "Value" for the purpose of levy of customs duty is "transaction value" in the course of international trade in arm's length unrelated party transaction.

Import-Export Policy
Import of goods into and export from India is regulated by the Foreign Trade Policy (the Policy) issued from time to time by Government of India. The Policy remains in force for five years and is amended from time to time. The Policy currently in force is for tax year 2004-09. Majority of goods are now freely importable.
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Central Excise Duty (CENVAT)

Central Excise Duty (CENVAT) is levied on goods manufactured and produced in India. It is levied under the authority of the Central Excise Act, 1944 at the rates prescribed in the First Schedule and Second Schedule to the Central Excise Tariff Act, 1985 as amended by Central Excise Tariff (Amendment) Act, 2004. In addition, education cess at 2 per cent on excise duty amount is levied by Finance (No. 2) Act, 2004. The effective rates may be lower pursuant to general /specific notifications issued by the government granting whole or partial exemption from duty. The duty, in most cases, is levied on the basis of value of the excisable goods.
Value, for this purpose, with effect from 1 July 2000 is the "transaction value" which is:
CENVAT is payable by the manufacturer but is, ordinarily, recovered from the buyer as a part of consideration for sale of goods. To reduce the cascading effect of CENVAT, a scheme known as MODVAT was introduced in 1986, which has now been renamed as CENVAT (effective 1 April, 2000). Under the CENVAT Scheme, a manufacturer can avail of the credit of the central excise duties or additional duties of customs (i.e. CVD) paid on specified inputs and capital goods used in the manufacture of excisable goods and also service tax paid on eligible input services and utilize it in discharging central excise duty on finished excisable goods.
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