Excise duty on iron ore
This query is : Resolved
23 August 2011
My query is wheather there is excise duty on sale of beneficiated Iron ore
We bring Iron ore in lumps form and after processing sell it as iron ore lumps and fines I would like to know the status of excise duty on such an ore
We bring Iron ore in lumps form and after processing sell it as iron ore lumps and fines I would like to know the status of excise duty on such an ore
24 August 2011
Excise duty would be charged as per the tariff rate of excise duty.
24 August 2011
Excise duty would be charged as per the tariff rate of excise duty.
25 August 2011
Iunderstand that it will be charged as per the tariff rate but as per 4/2006 iron ore is exmpted from excise duty so please tell me wheather there is any excise duty on iron ore at present
25 August 2011
In my opinion that notification is still alive for NIL duty in the instant matter.
25 August 2011
You are right the notification is still alive. This notification was issued on the basis of manufacturing aspects whether the process of ore to concentrate by grinding and washing with the help of machineries is amount to manufacture or not. Before the issuance of this notification ore was charged to excise duty as per tariff.
Now as per chapter note No.4 to chapter 26 of tariff, which has been inserted from the budget 2011-12, the process of converting ore into concentrate is amount to manufacture, therefore, liable to duty as per tariff with effect from 01.08.2011, the date of enactment of finance bill, 2011.
Now as per chapter note No.4 to chapter 26 of tariff, which has been inserted from the budget 2011-12, the process of converting ore into concentrate is amount to manufacture, therefore, liable to duty as per tariff with effect from 01.08.2011, the date of enactment of finance bill, 2011.
Message likes :
1 times
25 August 2011
Dear Mr.Pawan kumar
Please note We are not manufacturing iron ore concentrate but we are only upgrading the ore contents from lower to higher hence it may not coming under concentrate as per your above insertion .
shashi Kant Gupta
Please note We are not manufacturing iron ore concentrate but we are only upgrading the ore contents from lower to higher hence it may not coming under concentrate as per your above insertion .
shashi Kant Gupta
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
