EXCISE DUTY ON SCRAP GENERATED FROM EXCISABLE PRODUCT
This query is : Resolved
16 August 2010
sir...
Our Company is a manufacturing Company & We process both excisable & non excisable products. In that process, some scrap is generated. & it is difficult to bifaricate the scrap generated from excisable & non excisable productBut we sale scrap withoutexcise duty. So my query is that whether it is necessary to pass on excise duty on scrap or not? if yes at rate & in which praportion
Please reply at earliest
Our Company is a manufacturing Company & We process both excisable & non excisable products. In that process, some scrap is generated. & it is difficult to bifaricate the scrap generated from excisable & non excisable productBut we sale scrap withoutexcise duty. So my query is that whether it is necessary to pass on excise duty on scrap or not? if yes at rate & in which praportion
Please reply at earliest
16 August 2010
Calculate Its % as (Output qty -Input qty= normal wastage)
wastage Qty /input qty %
Like 8/200% = (4)%
Excise applicable on steel scrap 10%+2%+1%
Vat applicable 4% on steel scrap.
TCS applicable 1% on Scrap
wastage Qty /input qty %
Like 8/200% = (4)%
Excise applicable on steel scrap 10%+2%+1%
Vat applicable 4% on steel scrap.
TCS applicable 1% on Scrap
Message likes :
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03 May 2011
DEAR SIDDAROODHA HIREMATH SIR,
THANK YOU TO RAM AVATAR SINGH SIR,
IM AGREE WITH HIM.
THANK YOU TO RAM AVATAR SINGH SIR,
IM AGREE WITH HIM.
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