Manufacturing of Namkeen is Excisable?
This query is : Resolved
20 May 2011
1.Whether the manufacture of Namkeen is
excisable or not?
2.If no,then what is the treatment of Excise Duty
paid on raw material purchased for the
manufacturing process. Will it be the part
of purchase cost?
3.Or the VAT paid on the purchase will
be eligible to be set off against the VAT
paid on sales?
excisable or not?
2.If no,then what is the treatment of Excise Duty
paid on raw material purchased for the
manufacturing process. Will it be the part
of purchase cost?
3.Or the VAT paid on the purchase will
be eligible to be set off against the VAT
paid on sales?
20 May 2011
1)if sold in loose condition then no tax
vat paid on purchase would by accounted in purchase by gross bill value.
2) if sold in packed condition then vat is applicable, and here the input credit available for set off against vat liability of vat payable
vat paid on purchase would by accounted in purchase by gross bill value.
2) if sold in packed condition then vat is applicable, and here the input credit available for set off against vat liability of vat payable
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