Specific duty - The length volume thickness, density the rate of excise duty. Any duty(ie) on the measurable parameters. It is based on measurable parameters it is clarity. Applicable to the goods/ value of goods
Tariff value - It becomes valuation of goods under excise duty. The value fix by the excise authorities and is fixed.
Compound levy - Excise duty is leived in lumpsum in other option. It is leived on some other fixed sum. The manufacturers can directly opt for this scheme. This mode is optional because this is more beneficiary for the government. The only benefit for the manufacturers is that they can pay the amount as optional and is leived of the calculations and he need to pay after.
MRP with abutement - The maximum range/limit of retail proce is the maximum price beyond which the retailer cannot sell it. The buyer can negotiate this. The seller can sell the product till what the product can be bargained.
Conditions for availing this MRP scheme :
* The goods should be covered under standards of weights and measurements acts.
* The MRP should be accompanied by the range of abatement.
Assesable value with reference to transaction value - The transaction value becomes the basis for the excise duty.
Conditions for availing this scheme:
* The buyer should not be related to the manufacturer
* The price should not be the sole criterian for exchange
* At the time of every removal seperate excise duty should be lieved
* Goods should be transported from the manufacturer to the producer/ to the buyer at the place and time of removal
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