Assessable value
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 May 2011
Dear Experts,
Pls contribute to the following:
A Co mfg. final product for railway which was earlier ( before budget 2011) was exempted from Excise duty.
From budget 2011 the product fall under 1% excise duty as applicable.
Railway has been supplying steel for the mgf of final product free of cost(or reimbursable).
Now my question is after budget 2011, what will be the assessable value of the product, i..e, including the cost of steel or just actual cost?
thnx in adv
Pls contribute to the following:
A Co mfg. final product for railway which was earlier ( before budget 2011) was exempted from Excise duty.
From budget 2011 the product fall under 1% excise duty as applicable.
Railway has been supplying steel for the mgf of final product free of cost(or reimbursable).
Now my question is after budget 2011, what will be the assessable value of the product, i..e, including the cost of steel or just actual cost?
thnx in adv
26 May 2011
if railway is supplying the goods under ccr 2004 rule 4(5)a, or 214/86, then it would amount job work on behalf of railway, and service tax appliable
in absence of such challan, the assessable value will be inclusive of raw materials cost.
in absence of such challan, the assessable value will be inclusive of raw materials cost.
26 May 2011
It depend how you are billing ? Assessable value will be the value being charged on your bill to railways.
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales return eway bill
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- STCG FOR GOLD ETFs
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Tax liability on income of freelancer
- GST ON DAMAGED GOODS
- Loan by Partnership Firm
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
