Economics · Economy

Which of the following statements regarding the liability and payment provisions under the Central Excise Act, 1944 is/are correct? 1. Section 3 serves as the charging section that creates the mandate for duty liability on all excisable goods produced within the country. 2. If excisable goods are destroyed by a fire within the factory premises before they are removed, the duty liability may be remitted or waived. 3. For the production month of March, duty payment is required to be settled by 31st March (or 6th April for e-payment), unlike other months where payment is made by the 5th/6th of the following month. Select the correct answer using the code given below: