Hello,
We are a garment manufacturer and wholesaler located in Ludhiana and we are bit confused about the newly introduced excise duty. It would be great help if you could answer our question.
1. We are bit confused about the rsp turnover limit of 8.9cr and 4 cr after abatement. Wedo not mention RSP on our products. So will the price at which products are sold considered as rsp? Supposing we have a total revenue of about 2.5cr based on wholesale price, how will be excise duty calculated? Will it be :
a) 45% of 2.5 cr < 1.5 cr abatement, so no excise.
or
b) 1.5 abated frm 2.5 crores which leaves us 1cr which will be exciseable?
or something else?
2. Is there any excise on woolen headwears? (woolen caps)
CAclubindia
