Exise and vat details.
This query is : Resolved
Sravan Patnaik
(Querist)
20 April 2013
Hi,
I want to now how the excise duty wil be calculated?
The manufacturing cost of my product is say Rs. 25000 and I sell it at Rs. 30000. On what amount I have to pay excise duty? Do I have to add VAT before Excise or I have add Excise before VAT?
I want to now how the excise duty wil be calculated?
The manufacturing cost of my product is say Rs. 25000 and I sell it at Rs. 30000. On what amount I have to pay excise duty? Do I have to add VAT before Excise or I have add Excise before VAT?
Arun Kumar Singh
(Expert)
20 April 2013
You will pay the excise duty on transaction value i.e. Rs. 30000/-.
20 April 2013
Agree with expert.
Basic Value before excise and VAT XXX
Add: Excise Duty XXX
total XXX
Add:Sales Tax on Total XXX
sales Value XXXX
Basic Value before excise and VAT XXX
Add: Excise Duty XXX
total XXX
Add:Sales Tax on Total XXX
sales Value XXXX
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