Revised schedule vi

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 September 2012 THE EXCISE DUTY TO BE SHOWN DEDUCTED FROM SALES IS ONLY THE DUTY PAYABLE ON SALES OR THE DUTY ACTUALY PAID AFTER TAKING THE CENVAT CREDIT ?

CA Parul Saxena

CA Parul Saxena (Expert)
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12 September 2012 Duty payable on sales.....

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SANYAM ARORA

SANYAM ARORA (Expert)
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12 September 2012 It is the Duty payable on sales.

Eg. Sale of Products:-(Gross)
Faridabad Local Sale 13.125%
Faridabad Central Sale 13.125%
Faridabad Export
Excise Duty
Sale of Services
Other Operating Revenues
Less: Excise Duty ( Payable on Sales )

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Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2012 Is the rebate of excise duty & refund same ? if no how are they different ?

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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22 July 2025 Great question! Here’s the difference between rebate of excise duty and refund of excise duty:

1. Rebate of Excise Duty
What: A rebate is a concession or discount allowed by the excise department on the duty payable.
When: Usually given for specific cases like exports, or if goods are used as inputs in manufacturing other products.
Accounting: It reduces the amount of excise duty payable or effectively reduces the cost of goods.
Example: You pay excise duty but later get a rebate for certain eligible goods under government schemes.
2. Refund of Excise Duty
What: Refund is the return of excise duty already paid by the manufacturer/assessee when it’s found that duty was paid wrongly or excess.
When: Happens after claim and approval by the department when duty paid is more than liability, or goods are returned, or goods are exported.
Accounting: Treated as a receivable until refund is received; reduces excise duty expense once refunded.
Example: Duty was paid on defective goods later returned or duty paid on goods that were exempted.

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