Excise example sentences

With respect to excise taxes, necessities of life are exempted or taxed at low rates, comforts and semi-luxuries are moderately taxed, and luxuries, tobacco and petroleum products are taxed heavily.Excise taxes are the single largest revenue earner contributing 3 7 per cent of total tax revenue in 2003-0 Other direct taxes like wealth tax, gift tax and estate duty (now abolished) have never been of much significance in terms of revenue yield and have thus been referred to as 'paper taxes'.The exporter, therefore, has to apply to the concerned Excise Commissioner in the region with an invoice.Some major duty draw backs include refund of excise duties paid on goods meant for exports, refund of customs duties paid on raw materials and machines imported for export production.After obtaining the excise clearance, goods are sent to the concerned port for customs clearance.As per the Central Excise Tariff Act, excise duty is payable on the materials used in manufacturing goods.This facility entitles firms to produce goods without payment of excise and other duties.The work relating to sanction and payment of drawback is, however, looked after by the Commissioner of Customs or Central Excise Incharge of the concerned port/ airport/land custom station from where the export of goods is considered to have taken place.Central excise is the chief source of the Government revenue levied across states by the central government.Tax revenues, an important component of revenue receipts, comprise of direct taxes – which fall directly on individuals (personal income tax) and firms (corporation tax), and indirect taxes like excise taxes (duties levied on goods produced within the country), customs duties (taxes imposed on goods imported into and exported out of India) and service tax.If the Excise Commissioner is satisfied, he may issue the excise clearance.The excise policy plays an important role in pricing mechanism and hence the associations need to interact with the government to ensure streamlining of excise duties.Since goods meant for exports are not consumed domestically, these are not subjected to payment of various excise and customs duties.The refund of excise duty is known as duty drawback.But in many cases the government exempts payment of excise duty or later on refunds it if the goods so manufactured are meant for exports.