Kindly explain me is it necessary to pass excise cr to customer by examining the following example :
| WORKING OF COST IN GST | WORKING OF COST BEFORE | ||||||
| GST | |||||||
| BASIC PRICE | 100.00 | BASIC PRICE | 100.00 | ||||
| ADD : EXCISE 12.50 | 12.50 | ADD : EXCISE 12.50 | 12.50 | ||||
| SUB TOTAL | 112.50 | SUB TOTAL | 112.50 | ||||
| ADD : CST 2% | 2.25 | ADD : CST 2% | 2.25 | ||||
| COST | 114.75 | COST | 114.75 | ||||
| ADD : GP 10% | 11.48 | ADD : GP 10% | 11.48 | ||||
| SELLING PRICE | 126.23 | SELLING PRICE | 126.23 | ||||
| ADD : CGST 9% | 11.36 | ADD : VAT 6% | 7.57 | ||||
| ADD : SGST 9% | 11.36 | ||||||
| SELLING PRICE | 148.95 | SELLING PRICE | 133.80 | ||||
| LESS EXCISE TO BE | |||||||
| REFUNDED | 12.50 | ||||||
| NET SALES PRICE | 136.45 | NET SALES PRICE | 133.80 | ||||
| TAX TO BE PAID IN GST | TAX TO BE PAID IN VAT | 7.57 | |||||
| CGST | 11.36 | ||||||
| SGST | 11.36 | ||||||
| TOTAL | 22.72 | ||||||
| LESS : EXCISE CREDIT | 12.50 | ||||||
| NET TAX TO BE PAID | 10.22 | ||||||
CAclubindia
