Excise law
This query is : Resolved
CS Birendra Verma
(Querist)
29 May 2013
Please solve this problem:
A ltd sold goods to B Ltd for Rs 17000 which includes Excise duty of Rs. 10000.
i.e Rs. 7000 cost of Goods and Rs. 10000 Excise Duty.
How can it be possible....? Can Excise Duty be equal to or above the cost of manufacture the Goods?
If yes what will be the implecation in this situation ?
Please solve the problem.
-CS Birendra Kumar
A ltd sold goods to B Ltd for Rs 17000 which includes Excise duty of Rs. 10000.
i.e Rs. 7000 cost of Goods and Rs. 10000 Excise Duty.
How can it be possible....? Can Excise Duty be equal to or above the cost of manufacture the Goods?
If yes what will be the implecation in this situation ?
Please solve the problem.
-CS Birendra Kumar
Madhukar N Hiregange
(Expert)
03 June 2013
must be a clerical error. Could also be that the raw material became obsolete, but as it is removed as such the original duty has been reversed as required.
CS Birendra Verma
(Querist)
08 June 2013
Thanx a Lot, Sir
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