Dear All,
Can any suggest the below message:
We have moved the portion material to our supplier on j/w basic ( withouany tax ) . our supplier has produced finished product along with their mtrls also, Here both material consumed on that finished product.
Now our supplier has raised the invoice price his supplied material only but excise duty calcuation has arrived for both material.
My mtrls cost - 5500 /- + ( supplier Mtrls cost - 7410 /- ) = Total cost - 12910/-
Now the invoice has arrived the below calculation,
Price Cost taken his materl - 7410 /-
Add: Excise duty has arrived for both value - (12910*6.18%) - 798 /-
Add: Vat -2% - 164
Total cost - 8372 /- ( 7410+798+164)
Now my point is . excise duty is eligiable for both material cost ?
Mtrls price value shall show supplier's material cost only on that invoice.
CAclubindia
