A manfacturer purchase the inputs Rs 100 and paying excise duty Rs 10 and add a margin of Rs 50 and sell it Rs 150 and inputs are removed as such under rule 3(5) of cenvat credit rules. EXCISE DUTY IS LEVIABLE ON RS 150 OR NOT.
A manfacturer purchase the inputs Rs 100 and paying excise duty Rs 10 and add a margin of Rs 50 and sell it Rs 150 and inputs are removed as such under rule 3(5) of cenvat credit rules. EXCISE DUTY IS LEVIABLE ON RS 150 OR NOT.
No. you need not pay duty on Rs.150/-. Excise duty only on manufacture of goods not on trading
yes he need not to pay excise duty on 150 as input is worth of 100 and taxable event in case of exicse is manufacture and not sales so here sales price is nt relevant
CAclubindia
