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Excise duty cenat credit

VIJAY KUDTARKAR (ACCOUNTANT) (291 Points)

01 June 2015

Dear Sir,

Please any tell me, Is Cenvat credit availed for processing material ????

Thank you

VIJAY

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4 Replies

Rakshit (practising) (338 Points)
Replied 01 June 2015

Query is incomplete.Read Rupe 3 of Cenvat Credit Rules, 2004, for availing Cenvat credit

Raksh*t

09810525780

VIJAY KUDTARKAR (ACCOUNTANT) (291 Points)
Replied 06 June 2015

Raw material 500000

Lubricant Oil 50000

Diesel 150000

Quality Testing machin 190000

Pollution control 80000

Packing material 150000

Prossing Material 160000

Office equipment 120000

The excise duty is 16% calculate CENVAT CREDIT available ?

VIJAY KUDTARKAR (ACCOUNTANT) (291 Points)
Replied 06 June 2015

Dear Sir,

Please solve this problem urgently plz plz plz.....

Indira Industries, Pune produces a product the cost of production is Rs. 450/- per unit, selling cost is 90/- per unit and profit is 50/- per unit. the excise duty is due @ 12.36%

during a month, the actual production was 90000 units. the discounts are offered to different class of buyers at varying rates. the disposal of goods was as follows.

class Quantity Discount % of sales price

Distributor 40000 20%

Agent 16000 16%

Super Bazar 8000 10%

Retail Outlet 14000 5%

Foreigner 4000 15%

Calculate duty payable

I hopes you will solve this sum urgent basis ...

Thank you

Regards

VIJAY