Excise provision
This query is : Resolved
08 July 2010
Hello, i am doing the audit of the company where there is a policy of providing for the income on Loan License production depending on the stage of completion like under filling stage 40%, Packing stage 75% etc. Is it necessary for providing excise duty on such income.???
If it is necessary, then do i need to provide on full income or proportionate income.
If it is necessary, then do i need to provide on full income or proportionate income.
11 July 2010
Duty of excise is on activity of manufacture being completed and is fastened on removal and not on amounts of advance recived.
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