Duty on goods lying in stock.
This query is : Open
praveen makhija
(Querist)
25 May 2013
A co. Manufactured the goods on 1.3.2013. On which duty was leviable @10%. On 4.3.2013 govt increased duty from 10 to 12 %. Now on 7.3.2013 co. Sold the goods out of goods on manufactured 1.3.2013. So my query is what will be rate applicable for goods sold? And reason.
Arun Kumar Singh
(Expert)
25 May 2013
Excise duty will be payable at the rate of time of removal of goods from the factory gate.
praveen makhija
(Querist)
25 May 2013
I.e 12% will be applicable.
Arun Kumar Singh
(Expert)
25 May 2013
Yes, it is ok.
praveen makhija
(Querist)
25 May 2013
Sir if duty is same and additional duty had been imposed by govt @ 15% over and above 10%. Then what will be the duty payable to govt.?
praveen makhija
(Querist)
25 May 2013
Sir if duty is same and additional duty had been imposed by govt @ 15% over and above 10%. Then what will be the duty payable to govt.?
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