A manufacturer manufactures a product ‘C’, which is chargeable to excise duty. He avails MODVAT credit of the duty paid on the inputs, which are used in or in relation to the manufacture of product ‘C’. The product is an intermediate product and is consumed captively in the factory for manufacture of the final product. The final product is wholly exempt from the payment of duty under the Central Excise Act, 1944. While determining the assessable value under Rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975 the manufacturer does not include the element of duty paid on the inputs. The reasoning advanced by the manufacturer is that since credit has been taken of the duty paid on the said inputs, the cost of manufacture automatically stands reduced to the extent. Explain with reference to decided case law if any, whether the stand taken by the manufacturer in not including the duty paid on the inputs for purposes of valuation is correct?
Please sir help me for valuing imported goods in the books of account with journal entries & tell me various rules of valuation in custom laws with hepl of examples and cases.
my email id id : amitkumarchadha@gmail.com
Does a Software Import thru a Download from Internet attracts custom Duty...
I have a query regarding ACD. After issuance of customs notification no. 102/2007 dated 14/09/07, Can additional custom duty on imported goods be passed on the consumers through cenvatable invoices.? Here in the market, there is rumour that w.e.f 14/09/07, Importer can not pass on ACD through Cenvatable invoices. Is it correct?? Please reply my query...
I have a query regarding ACD. After issuance of customs notification no. 102/2007 dated 14/09/07, Can additional custom duty on imported goods be passed on the consumers through cenvatable invoices.? Here in the market, there is rumour that w.e.f 14/09/07, Importer can not pass on ACD through Cenvatable invoices. Is it correct?? Please reply my query...
How it is tranferred? We have sold the DEPB Licence credit directly to our party without endorsement of our name. Whether the income arising on transfer will be taxable as business income or speculative income.
What kind of duty chargable on electronic goods imported from china
Q. What are the procedure and requirement to get the license for EPCG ?
Q. I want to know the custom duty rate of all the product especially for software, hardware and electronic devices ?
Q. Is there any website which can show all the custom duty rates ?
CAclubindia
Exports schemes