malarvannan (accounts executive) (133 Points)
07 June 2011Dear friends
Please provide the excise duty calculation as stated below:
assessible value : 100, edu duty:10%,education cess:2% & S&H: 1%
What is the taxable amount & pls provide the reverse calculation also.
Thx in advance.
Best Regards
malarvannan.d
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 07 June 2011
Excise duty is not related to cost price, its charged on transaction or assessable value.
for assessable value of 100
Cenvat .10% 10.00
E Cess 2%.....0.20
S&HEC1%......0.10
-------------------------
Total ...............10.30
for reverse calculation 100*100/110.3=90.66
assessable value 90.66
cenvat 10% ....9.07
E Cess ...........0.18
S&HEC............0.09
-------------------------
Total ................9.34
R P Ananthakumar
(Sr. Officer - Central Excise/Cash)
(514 Points)
Replied 10 June 2011
Duty calculation and reverse calculation working is attached.
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