We are in the manufacturing of biscuits.
For valuing Excise duty, section 4A is considered and on MRP less abatement and duty is paid.
Wherease for paying VAT, commercial value is computed and VAT on such sales value is arrived.
Why Excise and VAT are not valued on the same value?
Is there any case law supporting the same.
Menu
EXCISE AND VAT LEVIED ON?
Replies (2)
simple, The concept of abatement is provided only in Excise law and not in VAT law.
Further, both are different meaning Excise revenue go to Central dept and VAT revenue to State dept.
Recent Topic
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
Related Topics
CAclubindia
