Rate for excise duty on closing stock
This query is : Resolved
07 June 2012
Plz any one tell me that at the time of making the provision of excise duty on closing stock what rate will be considered in FY 2011-12. i.e. 10.33% or 12.36% on full stock or part stock
Saurabh
CA Final student
Saurabh
CA Final student
08 June 2012
Provision will be created @ 12.36% because duty on clearance of such stock shall be payable at the rate of 12.36%.
The provision shall be calculated on the full value of stock.
The provision shall be calculated on the full value of stock.
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