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
CAclubindia
