hi everybody,

if the turnover of a software co. in2007-08 was below  Rs. 1.50 crores but expected above Rs. 1.50 crores in current  fin. year .

whether co. should charge exise from Ist april or from where the sale crose the limit of  Rs. 1.50 crores

and this will charge after vat or before vat and at which %

Thanks

Abid

pls this is urjent

there are two provisions are available to you first you will apply to excise & declare you will charged excise from rs one  & othe is you will liable on excise after crossing of rs 1.5 crores & excise is charged before vat

sales prise      100

excise 14%      14          assume

vat   4%             4.56      assume

total                  118.56                   

Thanks Mr.Hemant T Dewani