EXCISE DUTY ON SCRAP GENERATED FROM EXCISABLE PRODUCT
This query is : Resolved
SIDDAROODHA HIREMATH
(Querist)
16 August 2010
sir...
Our Company is a manufacturing Company & We process both excisable & non excisable products. In that process, some scrap is generated. & it is difficult to bifaricate the scrap generated from excisable & non excisable productBut we sale scrap withoutexcise duty. So my query is that whether it is necessary to pass on excise duty on scrap or not? if yes at rate & in which praportion
Please reply at earliest
Our Company is a manufacturing Company & We process both excisable & non excisable products. In that process, some scrap is generated. & it is difficult to bifaricate the scrap generated from excisable & non excisable productBut we sale scrap withoutexcise duty. So my query is that whether it is necessary to pass on excise duty on scrap or not? if yes at rate & in which praportion
Please reply at earliest
Ram Avtar Singh
(Expert)
16 August 2010
Calculate Its % as (Output qty -Input qty= normal wastage)
wastage Qty /input qty %
Like 8/200% = (4)%
Excise applicable on steel scrap 10%+2%+1%
Vat applicable 4% on steel scrap.
TCS applicable 1% on Scrap
wastage Qty /input qty %
Like 8/200% = (4)%
Excise applicable on steel scrap 10%+2%+1%
Vat applicable 4% on steel scrap.
TCS applicable 1% on Scrap
Message likes :
2 times
Durga prasad Ambati
(Expert)
03 May 2011
DEAR SIDDAROODHA HIREMATH SIR,
THANK YOU TO RAM AVATAR SINGH SIR,
IM AGREE WITH HIM.
THANK YOU TO RAM AVATAR SINGH SIR,
IM AGREE WITH HIM.
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