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.
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.
Aggarwal Sarawagi and Co
New Delhi
CA
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CAclubindia
