Dear Experts,
1) How i have to calculate Excise Duty liability for a company?
2) What is the entry for recognising the excise duty ?
3) what is the entry when it is passed to the buyer?
With regards,
Rajiv

I want to know the SSI Exemption limit is 1.50 Crore whether on Turn Over (Billing Value)or assessable value (MRP less Abatement)

Recently circular issue by c.excise department regarding e fliling of ER4,Er5 and er6 is mandatory.(circular no.926/6/2010 Dtd.28.05.10.)
What type of assesee has to efiled above return?

We have paid excise duty from current and cenvat a/c for privous finanacial year Rs.7500000(seventy five lacs).Is it compalsary for us to eflie er4,er5 and er6?

Request to all experts give guideline.

Sandeep

Hi,

could you please let me know the procedure to take EPCG licence and take the refund

thanking you

HS Reddy

. ECE Industries Ltd Vs. CCE 2009
The Agreement which contained price variation clause, the assessee upon
upward revision of prices, paying higher duty and on lowering of price, the
assessee is seeking refund as per Agreement and assessment shall be treated
as provisional. Refunds arising out of down revision of prices after clearance of
price, principle of unjust enrichment shall not apply.
my qs is that the above agreement has benn entered b/w manufacturer& buyer.

Q2 mer has collected duty from both ends i.e. from customer as well as he is opting for refund. why DOUE not apply?

Dear Sir,

Kindly clarify following point with respect to reversal of CENVAT credit:
Suppose a machine is purchased on 01/04/2009 by paying Excise Duty of Rs. 1,00,000. Now the same machine is sold on 25/03/2010 after using in manufacturing of excisable goods.

My questions are :


1. Whether 100% CENVAT credit can be claimed in year 2009-2010, because 100% credit is allowed in the year of purchase only when such capital goods are removed as such?
2. How much CENVAT credit will be available in year 200-2010 & 2010-2011?
3. How much CENVAT credit to be reversed on 25/03/2010 i.e. at the time of sale.


Thanking you,
Yours Truly,
Kunal Agrawal

Why do we provide excise duty on closing stk of fg? and what is the journal entry for the same?

Can any one explain what is F.A.S, F.O.B and CIF value of export.

does we take credit of service tax on marine cargo insurance ( insurance during transportation from Factory to buyer address)for payment of excise duty.

If the goods lost during transportaion it seller would be liable for the same

Dear friend

does we take credit of service tax on mobile and marine cargo ( insurance of sale in transit) for payment of excise duty.