Assessable value in er3 form
This query is : Open
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.
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.
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
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
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Missed TDS
- IT returns for fresh job holders
- F&O reporting in ITR
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- 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
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
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
