What is meaning ,and how to calculate in a invoice ????

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Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2011 1)Assessable value.
2)Sale value.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

03 September 2011 Assessable Value (AV) is the 'Value' on which duty is payable as a percentage. Generally, by 'Value', we understand the price as mentioned in Bill or Invoice. However, for excise purposes, it is not possible to fully rely on such price as (a) Duty is payable even if goods are not sold (b) It is desirable to have uniform policy in fixing the AV (c) Chances of manipulation in such price should be minimum.

https://centralexcisemadurai.tn.nic.in/what_central.html

https://www.dateyvs.com/cenex04.htm

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)

04 September 2011 I agree with the expert

Querist : Anonymous

Querist : Anonymous (Querist)

04 September 2011 thanks for your precious reply i have one more query, the excise duty is calculated after including packing and forwarding charges or excluding.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

05 September 2011 Excise duty is charged on the manufactured or imported goods depending on the either the end value of the product, or the cost of good manufactured.

It is calculated as

MRP or Cost of goods x excise duty (assumed 14%) is x 2% Cess (charged on the the 14% excise duty) x 1 % educational cess = MRP x 14.42% x Chargeable value of MRP.

for more information purpose link is:

https://www.cybex.in/indian-custom-duty/Horses-Duty-Calculator-01011010.aspx

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