Treatment of discounts in excise duty calculation
This query is : Resolved
17 February 2013
Urgent....
Kindly clarify regarding the treatment of discount(Trade, cash and qty discounts) in excise calculation.
I have seen a company invoice which calculating excise duty without deducting discount and the same is being deducted for CST calculation.
Please reply asap...
Kindly clarify regarding the treatment of discount(Trade, cash and qty discounts) in excise calculation.
I have seen a company invoice which calculating excise duty without deducting discount and the same is being deducted for CST calculation.
Please reply asap...
17 February 2013
Trade discounts are allowable as deduction for valuation purposes. Trade discount means discount usually expressed as a percentage deduction given to wholesale buyers. Since quantum of trade discount is not payable by buyer to seller, it will not form part of transaction value.
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- NRI starting business in India
- ADVANCE PAYMENT OF ADVOCATE
- ITDS U/S.194T of Firm
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- TDS ON EMAIL DOMAIN SERVICE BILL
- Invertaded duty struture
- GST not cancelled by tenant
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- CREDIT NOTES WITHOUT GST
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
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
