About shedule vi

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sudarshan reddy k

sudarshan reddy k (Querist)
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24 May 2012 any turnover limit for shedule vi

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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25 May 2012 Schedule VI is applicable to ALL companies irrespective of the amount of turnover.

The relevance of turover is for the purpose of the rounding off.

If a company chooses to round off the figures, it has to follow the below criteria:

If the turnover is less than Rs. 100 crores, round off to nearest hundreds, thousands, lakhs or millions.

If turnover is exceeds Rs 100 crore, round off to nearest lakhs, millions, or crores.

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sudarshan reddy k

sudarshan reddy k (Querist)
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30 May 2012 what is extra duty deposit(EDD)?and what are its rules and regulations

sudarshan reddy k

sudarshan reddy k (Querist)
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30 May 2012 excise duty is applicable for traders?if so why

sudarshan reddy k

sudarshan reddy k (Querist)
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30 May 2012 is it possible for the traders who are not entitled to pay exise duty to collect excise duty(input) from customers????

for ex:
X(manufacturer) sold goods to Y for 100+12.3(excise duty)=112.3 (say)
again Y(not a manufacturer) sold goods to customers for 100+30(profit)+12.3(excise duty)which was collected previously by X ???????

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