Is excise duty leviable on subsidy receivable?

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

27 July 2013 Dear All,
Is excise duty liveable on subsidy receivable from government on Manufacturing & Production of Fertilizer? If answer is yes than Plz Provide the notification or under which valuation Rules of Central Excise.

RENGARAJ R.K

RENGARAJ R.K (Expert)
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27 July 2013 You are right. The department has issued notices to the manufacturing units of fertilisers to provide the details of subsidy received for price controlled commodities. According to the department the manufacturing unit is paying excise duty on lesser price and hence the department wants to add the subsidy also for valuation purpose. So far there is no notifiction.

I shall provide you shortly the outcome of the case.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2013 Thank You Sir. Please Provide the outcome of the case as early as possible.

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