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Excise duty
We are Manufacturer, We received some items free from our customer Value 1,00,000
Our Material value Rs. 4,00,000/=
What amount is assess able value for Excise Duty ?
Sir, please advise
Nishant Pandey
Replies (2)
Material supplied free of cost by the buyer (before completion of manufacture) is included in the computation of AV for the purpose of ED calculation.
Assuming you are manufacturer paying duty. The duty of excise is on the gross value including the material supplied FOC unless the FOC has been sent under not. 214/86 by another manufacturer.
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