What is reduced excise duty rate in SAP IS-OIL-DS-TDP - Tariffs, Duties and Permits?

SAP Term: reduced excise duty rate

• Component: IS-OIL-DS-TDP

• Component Name: Tariffs, Duties and Permits

• Description: In special circumstances, the excise duty authority will collect excise duty at a reduced excise duty rate. The use of a reduced rate will normally be controlled by a licence issued by the authority.

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• Key Concepts: 
  Reduced excise duty rate is a type of tax levied on certain goods and services in India. It is a part of the Indian government’s taxation system and is applicable to certain goods and services. The reduced excise duty rate is applicable to goods and services that are considered essential for the public welfare, such as food items, medicines, and educational materials. 
  
  How to use it: 
  The reduced excise duty rate is applicable to goods and services that are considered essential for the public welfare. The rate of the reduced excise duty rate is determined by the Indian government and can be found in the IS-OIL-DS-TDP Tariffs, Duties and Permits component of SAP. This component allows users to view the applicable rates for different goods and services. 
  
  Tips & Tricks: 
  It is important to note that the reduced excise duty rate is only applicable to certain goods and services. It is important to check the IS-OIL-DS-TDP Tariffs, Duties and Permits component of SAP to ensure that the goods or services you are purchasing are eligible for the reduced excise duty rate. 
  
  Related Information: 
  The reduced excise duty rate is part of the Indian government’s taxation system. For more information on taxation in India, please refer to the Indian Taxation System page on SAP’s website.