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FIRST STAGE DEALER BILLING

This query is : Resolved 
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(Querist)
21 January 2011 how input tax credit will be claimed.

1st Buyer bought the material for 100 and has excise duty of 10 Rs. and other cess 3 Rs. total cost of the material is 113 and the same thing he sold it for 130rs basic cost.how he has to prepare the invoice to the second party
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Madhukar N Hiregange

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Madhukar N Hiregange (Expert)
27 January 2011 For the dealer the excise duty passed on has tobe exactly what was paid. Therefore the billing wouldbe 130 basic + excise duty 10 total 140+ cess 0.30.
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