Concept of passed on excise duty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 November 2012
EXPLAIN ME PASSED ON EXCISE DUTY BY FIRST AND SECOND STAGE DEALER AND WHO CAN TAKE THE CREDIT OF THIS DUTY AND HOW AND WHEN ?
INCASE
"A" IS MANUFACTURER WHO SALES TO "B"
"B" IS DEALER BUY GOODS 100PCS @ 100 RS/- PER PCS. @ 12.36% DUTY
"C" IS MANUFACTURER PURCHASED THE GOODS FROM "B" 50PCS @ RS 120/- PER PCS WITH VAT-05%
NOW "B" SHOWS ON HIS COMMERCIAL INVOICE RS 6000/- PLUS RS 240/- VAT TOTAL INVOICE RS. 6240/- AND ON BOTTOM OF INVOICES SHOWS THE DETAIL OF IS BUYING DETAILS FROM "A" WHO IS MANUFACTURER SHOWS BUYING DETAIL 100PCS @ RS 100/-PCS @ 12.36% ALSO SHOW THAT THIS DUTY HAS BEEN PASSED BY HIM (I.E. BY "B")
IN THIS CASE HOW EXCISE DUTY WORKS, WHO HAS TO PAY EXCISE DUTY, WHO CAN TAKE THE CENVET CREDIT AND HOW CAN THEY TAKE IT
EXPLAIN THIS TYPE OF TRANSACTION SELLING BY FIRST STAGE DEALER TO SELLING TO MANUFACTURER BY PASSIONG THE EXCISE DUTY ON MATERIAL PURCHASED FROM MANUFACTURER
INCASE
"A" IS MANUFACTURER WHO SALES TO "B"
"B" IS DEALER BUY GOODS 100PCS @ 100 RS/- PER PCS. @ 12.36% DUTY
"C" IS MANUFACTURER PURCHASED THE GOODS FROM "B" 50PCS @ RS 120/- PER PCS WITH VAT-05%
NOW "B" SHOWS ON HIS COMMERCIAL INVOICE RS 6000/- PLUS RS 240/- VAT TOTAL INVOICE RS. 6240/- AND ON BOTTOM OF INVOICES SHOWS THE DETAIL OF IS BUYING DETAILS FROM "A" WHO IS MANUFACTURER SHOWS BUYING DETAIL 100PCS @ RS 100/-PCS @ 12.36% ALSO SHOW THAT THIS DUTY HAS BEEN PASSED BY HIM (I.E. BY "B")
IN THIS CASE HOW EXCISE DUTY WORKS, WHO HAS TO PAY EXCISE DUTY, WHO CAN TAKE THE CENVET CREDIT AND HOW CAN THEY TAKE IT
EXPLAIN THIS TYPE OF TRANSACTION SELLING BY FIRST STAGE DEALER TO SELLING TO MANUFACTURER BY PASSIONG THE EXCISE DUTY ON MATERIAL PURCHASED FROM MANUFACTURER
29 November 2012
B will pass the duty to C @ 12.36% on 50pcs at the rate of Rs. 100/-. C will pay to B @ of Rs. 120 per pcs, Vat and excise duty.
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
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- Copyright software
- Regarding TDS Applicability For Director Remuneration
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
