textile industry
This query is : Resolved
Jigesh Panchal
(Querist)
06 March 2017
hii guys..one of our client having bussiness of jeans manufacturing and they have crossed t/o of Rs.1.5crs in current month...
they make a invoice after discount e.g. MRP Rs.1500 less discount Rs. 600 - Rs.900 net
so can anybody help me for the excise duty application and at what rate?
Arun Kumar Singh
(Expert)
11 March 2017
If MRP has been mention in the products more than 1000/- then you need to pay excise duty even after sale the goods after discount 600 and whatever. You need to consult with any professional. The rate of excise duty will be applicable 2% without cenvat credit after abatement.
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