Dear all
I want to know about excise duty applicable on manufacturing of ayurvedic medicines.
rate of excise on same
maximum limit of abatement
and the limit allowed
and please tell me that a concern that is not manufacturing but other firm which is engaged in manufacturing under its guidace who is liable to pay excise duty ?
plz help me
Excise duty is applicable on manufacturing of ayurvedic medicine and sold under a brand name. SSI exemption is not available if manufacturing of goods other brand name. 35% abatment is applicable on ayurvedic medicine cleared on MRP based under notification no. 1/2013-CE(N.T.) dated 1.3.2013.
i manufacture branded ayurvedic medicines
mrp-100
selling price - 15
turnover - 50 lakh
do i come under excise and what is the assessable value
CAclubindia
