Meaning of Excise duty on Central Excise Law :

It is a duty levied upon goods manufactured in any part of Indian nation and not upon sales or the proceeds of sale of goods. This duty is based on value of the goods manufactured. Hence , ‘Taxable Event’ is production/manufacture of Excisable Goods in India.

Hence ,it is necessary to determine the VALUE of the excisable goods in order to levy and collect the excise duty on these goods by applying the RATES specified in the First Schedule( called Basic Excise Duty- BED )  and the second schedule ( called Special Excise Duty –SED ) to the Central Excise Tariff Act,1985(CETA,1985)

There is no excise duty levied on imported goods or foreign goods, manufactured outside India.