Excise calculation on mrp products

This query is : Open

Harsha (Querist)
Follow

14 October 2014 Dear All,
I require clarity on this transaction as to what rate should be considered for excise,

Order Date 25-jan-2014,MRP on order date - 250
Invoice date 30-jan-2014, MRP on invoice date - 300
On what price should the excise be calculated 250 or 300.
(MRP product, 30% abatement)
Thank you.

Sreekumar

Sreekumar (Expert)
Follow

15 October 2014 Assuming you are supplying from a manufacturing unit, it is Rs.300/- minus abatement on which you have to charge duty.

Message likes : 1 times

Harsha

Harsha (Querist)
Follow

16 October 2014 Ya we are supplying from manufacturing unit,
Thank You

Harsha

Harsha (Querist)
Follow

16 October 2014 Sir what if the price in the invoice is 250 (material sold for price as on order date), even in that case should the excise duty be on 250 or 300.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Hemkumar

AJAY Kumar Agrawal

Rajasekar

CA Narender Yarragorla

Hitesh Desai

Subscribe Now

Excise calculation on mrp products

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA