Valuation
This query is : Resolved
24 August 2011
Say a product is removed to the depot for sale. Its removed at a valuation of Rs 100.
By the time is sold from the depot, its Rs 90. How do we adjust the excess excise?
Also, secondly, what if the invoice is issued, and rates are re-negotiated after sale?
Thank You.
By the time is sold from the depot, its Rs 90. How do we adjust the excess excise?
Also, secondly, what if the invoice is issued, and rates are re-negotiated after sale?
Thank You.
PAWAN KUMAR
(Expert)
24 August 2011
You have to pay the excise duty on differential amount of Rs.10/-.
If the price is negotiated after sale, then excise is to be paid on differential amount by issuing the supplimentary invoice.
If the price is negotiated after sale, then excise is to be paid on differential amount by issuing the supplimentary invoice.
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