Assessable value in er3 form
This query is : Open
vivek agrawal
(Querist)
05 October 2016
Hello,
Please help to understand the assessable value. in following 2 scenario.
1. Under 1.5cr Limit (Excise is not charged )
Material Value: 50000 (includes excise amount)
VAT: 2500
Total (502500)
2. Once 1.5Cr Limit is crossed
Material Value (40000) (Excise amount is not include)
Excise value (10000) (Excise amount, taken round figure )
VAT 2500
Total 502500.
When I will file the ruturn in both scenario what value I will fill in the assessable value part.
Please help to understand the assessable value. in following 2 scenario.
1. Under 1.5cr Limit (Excise is not charged )
Material Value: 50000 (includes excise amount)
VAT: 2500
Total (502500)
2. Once 1.5Cr Limit is crossed
Material Value (40000) (Excise amount is not include)
Excise value (10000) (Excise amount, taken round figure )
VAT 2500
Total 502500.
When I will file the ruturn in both scenario what value I will fill in the assessable value part.
Arun Kumar Singh
(Expert)
13 October 2016
Under the SSI exemption you need to mentioned in the ER-3 return SSI exemption notification 8/2003-C.E. and after this limit you pay the excise duty.
vivek agrawal
(Querist)
20 October 2016
well my question is the difference of assessable value figure in both the scenario. I have give two scenario and the invoice calculation
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