We are a manufacturer. We are transferred stock to Branch in One rate, but branch sale it at two different rates. We paid differential duty if branch sale this goods on higher rate.
What will be Excise duty treatment for the following transactions.
Qty Rt Value Rt of Duty Amt of Duty
A Stock trf to Branch 400 kg 125 50000 14% 7000
B. Sold at Branch
I Transaction 100 kg 125 12500 14% 1750
II Transaction 100 kg 125 12500 10% 1250
III Transaction 100 kg 150 15000 10% 1500
- II nd transaction , there is loss of Duty - 500/-, Can we adjust ? or consider as Loss of Duty
- IIIrd transaction, Overall loss of Duty 500/- ( ED paid on material 1750, & collection is 1250 ), but excess collection as per Material Rt. 250, ( 25*100)=2500 @ 10% , 250/-
Please clarify.
CAclubindia
