amortisation cost of cylinder
This query is : Resolved
20 April 2009
Dear Sir,
We are mfg. of industrial gases and we supplied gases to our customers in our and parties cylinders under chapter 2811 2190, now excise department issued to us show cause notice for element of amortisation cost of cylinder not included in the assessable value. They say we are liable for to pay the differential duty on account of the non-inclusion of the element of amortisation of the cost of cylinder. Pl.Gives guideline to us.
We are mfg. of industrial gases and we supplied gases to our customers in our and parties cylinders under chapter 2811 2190, now excise department issued to us show cause notice for element of amortisation cost of cylinder not included in the assessable value. They say we are liable for to pay the differential duty on account of the non-inclusion of the element of amortisation of the cost of cylinder. Pl.Gives guideline to us.
21 April 2009
The matter is being taken up in appeal by the revenue though there are a number of cases (BOC) etc where the amortisation has been held not to be required.
Legally speaking dept. may not succeed as the same is a returnable durable packing and what is manufactured is a gas only used fro transportation.
Legally speaking dept. may not succeed as the same is a returnable durable packing and what is manufactured is a gas only used fro transportation.
24 April 2009
No amortisation is required in this case.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- ASMT-10 received from A O
- Gst on travel by air for business purposes
- Taxability of credit in canara bank ET & T section (NRO)
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- ITR-3 File/Error Found
- Banking Related Issue
- IT returns for fresh job holders
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
