Calcluation of excise
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 March 2013
How to calculate Excise Duty
Rajeev Kumar Garg
(Expert)
03 March 2013
Excise Duty is calculated on assessable value (Sale Value) @ 12 % or at that rate which is applicable on your product. Then Education Cess @ 2% and Higher Education Cess @ 1% on amount of duty.
For Example, if sale value is Rs. 10000/=
Duty will be Rs. 1200/=
Ed. Cess will be Rs. 24/=
Higher Ed. Cess will be Rs. 12/=
Total Duty will be Rs. 1236/= which can be said in percentage 12.36% of the assessable value.
For Example, if sale value is Rs. 10000/=
Duty will be Rs. 1200/=
Ed. Cess will be Rs. 24/=
Higher Ed. Cess will be Rs. 12/=
Total Duty will be Rs. 1236/= which can be said in percentage 12.36% of the assessable value.
Rajeev Kumar Garg
(Expert)
03 March 2013
Excise Duty is calculated on assessable value (Sale Value) @ 12 % or at that rate which is applicable on your product. Then Education Cess @ 2% and Higher Education Cess @ 1% on amount of duty.
For Example, if sale value is Rs. 10000/=
Duty will be Rs. 1200/=
Ed. Cess will be Rs. 24/=
Higher Ed. Cess will be Rs. 12/=
Total Duty will be Rs. 1236/= which can be said in percentage 12.36% of the assessable value.
Rajeev Kumar Garg
(M.Com, L.L.B.)
Consultant (Excise, Customs & Service Tax)
Ph. no. +91 7500802402
For Example, if sale value is Rs. 10000/=
Duty will be Rs. 1200/=
Ed. Cess will be Rs. 24/=
Higher Ed. Cess will be Rs. 12/=
Total Duty will be Rs. 1236/= which can be said in percentage 12.36% of the assessable value.
Rajeev Kumar Garg
(M.Com, L.L.B.)
Consultant (Excise, Customs & Service Tax)
Ph. no. +91 7500802402
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
- Visiting card purchase
- Query on effect of registration of property
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Additional trade name
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
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
