We are the manufacturer of leather footwear. We supply goods @ Rs.740.00/pair & dealer sales it @ Rs.960.00/pair. I have calculated Excise Duty as under:
1. Price of Footwear 740.00 (-)Abatement@35% 259.00 Assessable Value 481.00
Excise Duty 481.00X12.36% 59.45/Pair
2. Price of Footwear 960.00 (-)Abatement@35% 336.00 Assessable Value 624.00
Excise Duty 624.00X12.36% 77.12/Pair
I wanna know which method is right to calculate excise duty. Also, I would like to clear that we manufacture Buyer's Brand.