Executive Accounts Question:
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What is Service Tax & Excise? How will it be charged?
Answer:
Service Tax is a Indirect Tax which is levied on Service. The Service receiver will pay to the service provider.
Ex: Servicing a Vehicle, Delivering goods, outsourcing agencies. etc.
Excise Duty is also a form of Indirect Tax but this is imposed on Goods or manufacturing Items.
Ex: Steel, Cement, dress Materials, etc
Ex: Servicing a Vehicle, Delivering goods, outsourcing agencies. etc.
Excise Duty is also a form of Indirect Tax but this is imposed on Goods or manufacturing Items.
Ex: Steel, Cement, dress Materials, etc
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