How do we calculate Assessable value for the purpose of calculating excise duty on MRP, Non MRP products?
Is it levied at the rate of 101 % on cost before considering abatement?
If Yes, will it be the same for both MRP as well as NON MRP products?

dear sir,
i am working in Ayurvedic pharma co. & we are paying excise duty @ 2.06 for shastrokya & 6.18 for petent product. we are taking 35% abatement on shastrokya product. my question is that if we are supply in government department so what is the excise duty we will pay?

experts,
Since a company has filed excise return on 31st March 2014. but some of the GTA bills were received in April 2014,company has to enter these bills in previous year. Whether company has to file revised return or can pay excise with interest ???

Dear Expert

I have queries related to export by Merchant exporter. I am putting down the steps, involved in export of goods by Merchant Exporter. These are based on our understanding which we have acquired by studying advices of various experts in this forum but still have few doubts:

1. Merchant exporter execute B-1 Bond with its jurisdictional excise authorities.

2. Obtain CT-1 form and debit the running Bond register for the duty amount

3. Prepare ARE-1 form at transaction value (at the price agreed between manufacturer and Merchant exporter in local currency) and sign it.

4. Forward CT-1 and ARE-1 form to manufacturer

5. Manufacturer raises local sales invoice on Merchant exporter at the same rate/value which is mentioned on CT-1 and ARE-1 without charging Excise Duty and Sales tax with a remarks that goods being supplied against CT-1 and Form-H.

6. Duty Forgone based on local sales invoice is mentioned on ARE-1 to complete it.

7. Local sales invoice to carry name of end customer (foreign buyer to whom Merchant exporter is going to ship the product)

8. After excise examination and sealing inform the Merchant exporter about it.

9. Merchant exporter raises Export Sales Invoice on its foreign buyer in foreign currency and prepare Packing List and provide it to Manufacturer and ask him to load the material on lorry and move it to Indian custom port from where goods will be physically shipped abroad

10. In the meantime, based on export Invoice, Merchant exporter file the shipping bill with the help of its CHA

11. Manufacturer load the material and send it to custom port alongwith Export Invoice (in foreign currency) as provided by Merchant Exporter + Packing List + required copies of ARE-1.

12. Merchant exporter’s CHA take over the goods at custom port and complete the export formalities

13. Goods are physically exported

14. Merchant exporter submit the proof of export (ARE-1 copy, HBL, Export Invoice (in foreign currency + Local purchase Invoice) to its own jurisdictional excise office to discharge the bond and also send copy of the same to Manufacturer who inturn submit the same to their excise office to close the transaction.

15. Merchant exporter provide the Form-H to manufacture.

Now my queries are as follows :

(A) Are all above steps are correc ? if not, please suggest the correction in details.

(B) Point No.3 above : The value in ARE-1 will be the one agreed between Manufacturer and Merchant Exporter in Indian rupee or do we need to mention the value in foreign currency as well at which goods will be finally exported ? or both ?

(C) If on ARE-1 only local sales value is mentioned, then it will differ with Shipping Bill value because Merchant exporter will file the shipping bill at the price/value which he has agreed with its foreign buyer, which will be higher than mentioned on ARE-1 - how to address this matter ?

Regards/OP Shrestha

excise registration is obtain on 21-2-14 and there is no excise duty payable upto today. which return should required to upload for NIL return..?? plz reply.. is there any penalty for this late nil return.?

Experts,
Excise is applicable when goods exits from factory gate, If a company has rented some part of the factory to other company which is used as a raw material for that company.

Will excise will be applicable as goods have not crossed the factory gate??

Dear Sir,

I wanted to know that if a company purchase a transformer for using as a power generating machine, whether he is eligible to avail the cenvat credit on the duty which he has paid at the time of purchase of the same.

Dear Experts,

A company is raising invoices of one division JOB work to it's another division then service tax is applicable or not.
and if Job work given to its sister companies then service tax is applicable or not on job performed.

thanks in advance.

Dear Sir

Is there debit/ credit note increase / decrease excise liability in the same month

We are Excise registered firm in Gujarat. One of our client from Jammu wants to purchase machine from us. Now I want to know whether we can issue a Excise Invoice with excise duty and CST or there is any exemption of excise duty and CST if I sale to my client in Jammu.