hi everybody,
if the turnover of a software co. in2007-08 was below Rs. 1.50 crores but expected above Rs. 1.50 crores in current fin. year .
whether co. should charge exise from Ist april or from where the sale crose the limit of Rs. 1.50 crores
and this will charge after vat or before vat and at which %
Thanks
Abid
pls this is urjent
there are two provisions are available to you first you will apply to excise & declare you will charged excise from rs one & othe is you will liable on excise after crossing of rs 1.5 crores & excise is charged before vat
sales prise 100
excise 14% 14 assume
vat 4% 4.56 assume
total 118.56
Thanks Mr.Hemant T Dewani
CAclubindia
