Sir,
We are supplying the automobiles parts to an automobiles co. we had supplied some parts during the time of Jan- 2014 to March-2015, now automobile company has increased & amended the purchase order retrospectively the price of our parts supplied to them from our co.
Now, we have to raise the supplementary invoice due to the rate revision for duty difference but, the rate of excise duty has been change from 12% +EDU CESS 2% + S&H CESS 1% to BED 12.5 % from 01.03.2015., So if today, I want to raise the Excise invoice what should be the rate of Excise duty i.e 12%+2%+1% or 12.5 %.
Pls. give your opinion on the issue with supporting rules, regulation, case law etc.
CAclubindia
