Accounting Question:

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What is Service Tax & Excise? How will it be charged?

Accounting Interview Question
Accounting Interview Question

Answer:

Service Tax is a form of indirect tax imposed on specified services called Taxable services. Presently it covers 58 services. The service provider but A collected shall pay a service tax from the service receiver. Excise is also a form of indirect tax levied on A goods produced or manufactured in India.

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