Trade discount under excise invoice
This query is : Resolved
shoeb parwaiz
(Querist)
14 February 2012
Dear All,
I have a query that one of my supplier issues me bill as under:
Basice Value 90,000.00
Excise Duty @ 5.15 4,635.00
Sub Total 94,635.00
Less:
Trade Disc.@ 10% 9000.00
Invoice Value 85,635.00
I wanna know whether it is right practice or i should avail discount on Rs.94635.00 instead of Rs.90,000.00
Also, Would u please explain me what is Rule 51-A
Regards
Thanks In Advance
I have a query that one of my supplier issues me bill as under:
Basice Value 90,000.00
Excise Duty @ 5.15 4,635.00
Sub Total 94,635.00
Less:
Trade Disc.@ 10% 9000.00
Invoice Value 85,635.00
I wanna know whether it is right practice or i should avail discount on Rs.94635.00 instead of Rs.90,000.00
Also, Would u please explain me what is Rule 51-A
Regards
Thanks In Advance
Rajnish Singh
(Expert)
15 February 2012
RULE 51A. Removal of goods after payment of Duty
Otherwise expressly provided in these Rules, no duty-paid goods shall be allowed to enter, or be retained in, any part or premises of a factory: provided that the Commissioner or the Board may, by a general or special order, and subject to such conditions and limitations as may be laid down in such order, permit duty-paid goods to enter, or to be retained in, any part or premises of a factory.
YOU SHOULD GET DISCOUNT ON 94635 /- . PLS GO THRU THE TERM ,WHEREIN TRADE DISCOUNT OFFER ONLY ON BASIC VALUE OR ANY OTHER.
OTHERWISE YOU ARE ABLE TO GET DICOUNT ON 94635/-.
Otherwise expressly provided in these Rules, no duty-paid goods shall be allowed to enter, or be retained in, any part or premises of a factory: provided that the Commissioner or the Board may, by a general or special order, and subject to such conditions and limitations as may be laid down in such order, permit duty-paid goods to enter, or to be retained in, any part or premises of a factory.
YOU SHOULD GET DISCOUNT ON 94635 /- . PLS GO THRU THE TERM ,WHEREIN TRADE DISCOUNT OFFER ONLY ON BASIC VALUE OR ANY OTHER.
OTHERWISE YOU ARE ABLE TO GET DICOUNT ON 94635/-.
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