Excise duty

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Sachin Pandey (Querist)
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02 April 2012 Plz Help me Out
While valuating for Raw materials, WIP ,Finished goods in working capital management if in the question it is also given that (The product is subject to excise duty of 10% levied on cost of production). What will be it's effects? Will it be included in valuation of debtors and WIP?

Ram Avtar Singh

Ram Avtar Singh (Expert)
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02 April 2012 In Raw Material Excise Part Added so It will be Cost of Raw materials.

In finished Goods/WIP, Rate is not fixed for charging of Excise.So Excise will be calculated approximatly seperetly.seperet detail of duty required.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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10 April 2012 The expert has given you correct reply and I agree with him

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