TAX

Simplifying Excise Tax Related Procedures

During the current economic environment, it is crucial for businesses to manage their cash-flows. Cash-rich or cash-sufficient businesses need to survive to embrace the future which could be uncertain for few sectors.

Having said this, businesses which import or produce
excisable products would have felt the impact on the cash-flows due to high tax rates of tax and long credit period for recovery from the customers. There is an opportunity for businesses to manage their cash-flows further by setting up operations in an Excise Designated Zone (i.e. excise
warehouse) and manage the cash-flows. This Article deals with the intricacies for setting up operations in Excise
Designated Zones.

Read more on this topic and get in touch with our experts, Stephen Kitching, Tax Advisory Partner, and Sunny Kachalia, Tax Advisory Senior Manager, to help you with any possible queries you may have on this.