banner_ad

Effect of change of exice duty on the finished goods stock

This query is : Resolved 
Profile Image

Profile Image

(Querist)
22 March 2013 Sir/Madam
The last finance bill had brought in the change of excise duty rate from 10% to 12%. Can anybody please tell me how we will treat the already manufactured finished goods.(Since excise duty is charged at the point of manufacture even if it is collected at the time of sale) Which rate will apply to those stock? Whether the rate prevailed at the time of their manufacture or the new rate.
Profile Image

Rajeev Kumar Garg

Profile Image

Rajeev Kumar Garg (Expert)
24 March 2013 EXCISE DUTY WILL BE CHARGED AT THE RATE WHICH IS APPLICABLE AT THE TIME OF REMOVAL OR SALE. THEREFORE, DUTY WILL BE CHARGED @ 12% NOT 10%.
THANKS
R.K. GARG
(CONSULTANT)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details
Company
26 April 2026
Chartered Accountant

Source HR

Mumbai

CA

View Details
Company
04 May 2026
Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 24 April 2026
Article Assistant

SMW And Co.

Pune

CA Inter

View Details