What is IRS IRS C and CE?

The Indian Revenue Service (Customs & Indirect Taxes) (IAST: Bhāratīya Rājasva Sevā), often abbreviated to I.R.S. (C&I. T.), or simply IRS C&IT, is a part of central civil service of the Government of India.

Is excise duty included in revenue?

At the federal level, the United States collects about 4\% of its revenue from excise taxes; they aren’t imposed across international borders. Percentage of Price: Also known as an ad valorem tax, percentage of price excise taxes are charged as a set percentage of the total value of the product or service.

How are excise taxes and customs duties different?

Excises are often associated with customs duties (which are levied on pre-existing goods when they cross a designated border in a specific direction); customs are levied on goods that become taxable items at the border, while excise is levied on goods that came into existence inland.

Should excise duty be included in COGS?

Excise Duty: Excise duty is a tax or duty which is levied at the time of manufacture of goods. However, it will be payable at the time of removal of goods from factory. Therefore, excise duty is not payable on goods lying in the factory so as to put the goods in condition and location.

What is it like to be an IRS (Customs and Central Excise)?

An IRS (Customs and Central Excise) officer leads an interesting life. He has a great variety in his job. I can summarize a few of them as following. 1. You act as a police officer when working on the borders and Customs port. 2. You act as a tax officer when doing assessment job in Customs, Central Excise and Service Tax.

Where can an IRS (C&CE) officer work?

IRS (C&CE)officials can work in World Customs Organisation (Brussels), COIN (Customs Overseas Intelligence Network) and at Embassies (Usually First Secretary level) IRS (IT) officials can work at Income Tax Overseas Units at various countries.

What is the difference between IRS (IT) and IRS (C&CE)?

IRS (IT) handles affairs of direct tax and so will be dealing with individuals, businessmen, and celebrities etc.Whereas IRS (C&CE) deals handles a set of indirect taxes namely Customs, Central Excise, Service Tax.

What is the work of IRS C&CE in narcotics?

IRS C&CE apart from administering GST act also does the work of customs and it’s allied acts, has narcotics licencing and control. An officer frequently rotates between GST and customs branches and can choose narcotics side as per his interest.