Please provide me details...how much excise applicable on manufacturing of Namkeen(Aloo Bhujia,Mixture,Kurkurre) and Biscuits. lets says under Brand name Shyam Namkeens.
Please tell me about the Excise Turnover Limits.
Prateek (B.Com(H) PGDBA CA Final) (436 Points)
04 August 2011Please provide me details...how much excise applicable on manufacturing of Namkeen(Aloo Bhujia,Mixture,Kurkurre) and Biscuits. lets says under Brand name Shyam Namkeens.
Please tell me about the Excise Turnover Limits.
Ritu Sedwal
(Chartered Accountant)
(407 Points)
Replied 04 August 2011
Prateek in my opinion Exise Duty will be calaulated on transaction value based on MRP on such product u/s4A...as it is a retail pack if it satisfies 2 condition laid down u/s 4A:
1) Required by Standard Weight & Measurement Act(SWMA)
2) If it notified by the Central Government
Now Transaction value wil be MRP less % notified by CG
That will be the Assessable Value on which ED will be levied @ 14% + 3% +2%
Now lets c the other members agrees with me or not.
Tanvi
(Practising CA)
(223 Points)
Replied 04 August 2011
Tanvi
(Practising CA)
(223 Points)
Replied 04 August 2011
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