Pass on of excise duty for traders
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 May 2013
I have started a trading firm with excise license. What I got to know is that we have to pass on the excise duty which is charged by the manufacturer to us.
For eg. if material is of Rs.100. We are charged 100+12.36(excise).
Now we want to sell that material in Rs.120.
Do we have to charge
120+12.36(excise by manufracturer)
OR
120+14.83(excise of 12.36% on 120)
Our consultant told that we have to charge according to first case but with that our client can easily know whats the actual cost price and how much profit margin we have.
How to hide this profit from our cutomer.
Thanks.
For eg. if material is of Rs.100. We are charged 100+12.36(excise).
Now we want to sell that material in Rs.120.
Do we have to charge
120+12.36(excise by manufracturer)
OR
120+14.83(excise of 12.36% on 120)
Our consultant told that we have to charge according to first case but with that our client can easily know whats the actual cost price and how much profit margin we have.
How to hide this profit from our cutomer.
Thanks.
Arun Kumar Singh
(Expert)
27 May 2013
You can not hide the assessable value purchase from manufacturer.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Query on effect of registration of property
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Equity Share Sale and Purchase
- Additional trade name
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Number of years as per AS amortisation of Goodwill
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
