Economics · Central Excise Terms and Concepts
Within the regulatory framework of excise duty in India, which of the following specifically defines 'Excisable Goods'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1All industrial components that have a defined life cycle of more than one year
- 2Goods that are specified in the First or Second Schedule to the Central Excise Tariff Act✓
- 3Items that undergo a permanent chemical transformation during the manufacturing process
- 4Any product that is exclusively intended for sale to government-owned entities
Correct answer
Goods that are specified in the First or Second Schedule to the Central Excise Tariff Act
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