Calculation of turnover
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 February 2014
Sir,
As on today as per section 4A our sales comes to Rs.1 crore 45 lacs of our own branded products and turnover of classical products (covered under notification no.,01/2011) is Rs.4.00 lacs. My query is :
a) for calculation of 150 lacs, whether both sales will be merged.
b) Can I pay 6% duty on own branded goods and 2% on classical goods (classical products means as per pharmacopiea)
Please give me reply.
Thanks
As on today as per section 4A our sales comes to Rs.1 crore 45 lacs of our own branded products and turnover of classical products (covered under notification no.,01/2011) is Rs.4.00 lacs. My query is :
a) for calculation of 150 lacs, whether both sales will be merged.
b) Can I pay 6% duty on own branded goods and 2% on classical goods (classical products means as per pharmacopiea)
Please give me reply.
Thanks
Arun Kumar Singh
(Expert)
06 February 2014
All the goods covered under notification no. 01/2011 is exempt from excise duty. It will not be clubbed for SSI exemption. for the classification of goods and valuation, you should consult with any professional.
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