hi
in a company fly ash to the extent of 20%, is distributed free of cost as a statutory obligation (under pollution control board) and the rest of 80% is sold at a very nominal charge as an administrative cost only say Rs. 10/- per metric tonne.
so whether excise duty will be leviable and if it is then wat will be the value and quantity on which duty will be imposed
Fly ash to attract ED of 1 % without cenvat credit facility...
thank you
now suppose 800 metric tones is sold @ Rs. 10/- per me tonne(a very nominal charge) and 200 metric tone is distributed free of cost(statutory obligation). Then what will be the assessable value in the above mentioned case?
on Free of cost distributed goods also have to pay excise duty So 800+200= 1000 X 10 = 10000 assessable value
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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