What are Nil Rated Goods and Exempted Goods?
What are Nil Rated Goods?
View AnswerNil rated goods are goods mentioned in CETA but the rate of duty against them is 0%
Example
Bamboos, Common salt, Rock salt
Are Nil Rated goods excisable goods?
View AnswerYes , because
- They are goods
- They are mentioned in First and Second schedule of CETA
- They are subject to Rate of excise duty (even 0% is rate)
What are Exempted Goods
These are goods which are mentioned in CETA , rate of duty against them is also mentioned against them but excise duty has been exempted by government by issuing exemption notification
Whether Exempted goods are excisable goods?
View AnswerYes , because
- They are Goods
- They are mentioned in First and Second schedule of CETA
- They are subject to Rate of excise duty (exemption is not relevant)
