OneFinOps
Sign in Book a Demo
Glossary / Also known as

Central excise duty

Another name for Central Excise.

Read the full definition All terms

What does central excise duty mean?

Central excise duty is another name for Central Excise. A tax on the manufacture of goods within India, levied by the central government and largely subsumed by GST in 2017.

The two names mean the same thing. You will see "central excise duty" in some ledgers, reports and contracts and "Central Excise" in others. The full entry covers how it works, with examples.

Read the full definition of Central Excise

Topics

From the glossary

Related terms.

Trade and foreign exchange Central Excise A tax on the manufacture of goods within India, levied by the central government and largely subsumed by GST in 2017. Also called central excise duty Trade and foreign exchange Excise Duty An indirect tax on the manufacture or production of goods within a country, distinct from customs duty on imports. Also called excise tax, excise GST basics GST (Goods and Services Tax) India's unified indirect tax that replaced multiple central and state levies, creating a single national market for goods and services. Also called Goods & Services Tax Input tax credit Input Tax Credit (ITC) A mechanism that allows businesses to claim credit for GST paid on purchases and expenses, reducing their overall output tax liability. Also called input credit, GST input credit, input tax credit under GST Trade and foreign exchange Customs Duty A tax levied on goods imported into or exported from India, administered by the Central Board of Indirect Taxes and Customs. Also called import duty Trade and foreign exchange Anti-Money Laundering (AML) Regulations and processes to detect, prevent, and report money laundering activities in the financial system. Also called anti money laundering, PMLA compliance
From the blog

Related posts.

GST E-Invoice Applicability and Turnover Limit under GST E-invoicing applies to every GST-registered business whose PAN-level aggregate turnover crossed ₹5 crore in any year since 2017-18. OneFinOps Editorial 3 min GST What is E-Invoicing in GST? IRN, Process and Rules E-invoicing in GST means reporting each B2B invoice to a government Invoice Registration Portal, which validates it and returns an IRN and a signed QR code. OneFinOps Editorial 3 min GST What is Input Tax Credit in GST? Conditions, Example and Rules Input tax credit is the GST paid on business purchases that you deduct from the GST you owe on sales, if the section 16 conditions are met. OneFinOps Editorial 3 min
Book a Demo