Hi,
we are into bakery manufacturing, we sell products at Baseprice+Excise+Tax, Also we give margins on baseprice to customers. We have the provision for 70% abatement for cookies and chocolate, can anyone please help me on the calculations for the invoice or a softcopy of the invoice for the same.
Thanks
Say product cost is Rs.100
Than charged 3 % ED
E.Cess 1 %
SHE Cess 2 %
Or other taxes if any on it.
thanks for correcting me...
As per my view...
Like say product is of Rs. 100
by taking abatement of 70%, your taxable value would be Rs. 30.
on which 10% excise duty, 2% E.cesws and 1 % S.H.E. Cess is payable..
yes agree with pinky..
CAclubindia
