Is excise duty refundable? What is the excise duty on Mustard oil?


I am exploring the export business from India of Mustard Oil. The HS Code of Mustard Oil is 15149120 . Please do needful as follows:

1. Please Confirm the Excise Duty on Mustard Oil (15149120).

2. Please confirm the Subsidy on Mustard Oil, if any.

3. Do we take Excise Duty as a cost?

4. Is Excise Duty is refundable?

5. Do we take Subsidy as a profit?

Answers (1)


304 votes

The Mustard Oil is subjected to a central excise duty @ 6% ad valorem.  

In general, there is no subsidy available for the export of Mustard Oil.

It can be refunded if the same is not recovered from the customers in the invoice issued to them, and then it is a profit, otherwise, it is a cost. 

The subsidy is considered to be as profit, if there is any subsidy available under the act.

Further the subsidy part of the same can be clarified when we get the documents like the invoice, country of origin etc.

Kindly contact us for any further details and action.


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