VAT on excise duty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 November 2010
I want to understand that how the VAT is leviable on Excise Duty and how it's credit can be avialed?
23 November 2010
VAT charged on excise duty is by law, Excise duty cannot be set off against the VAT
23 November 2010
Sale value for the purpose of VAT is including Excise duty if any, ED is charged on basic price.
ED (except few items)goes to Central government & VAT goes for local state governemnet.
Set off is possible between input credit ED to output ED & input VAT to Output VAT.
ED (except few items)goes to Central government & VAT goes for local state governemnet.
Set off is possible between input credit ED to output ED & input VAT to Output VAT.
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