Excise on footwear
This query is : Resolved
shoeb parwaiz
(Querist)
19 June 2012
Dear All,
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.
Regards
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.
Regards
RAMESH KUMAR VERMA
(Expert)
20 June 2012
please find enclosed herewith the link for calculating the duty:
https://www.eximguru.com/calculator/calculatecustomduty.aspx?1=5&2=&3=0&4=4&hscode=25020000
https://www.eximguru.com/calculator/calculatecustomduty.aspx?1=5&2=&3=0&4=4&hscode=25020000
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