14 October 2010
i have got a bill from one of my creditors that is as follow- total amount - 357560 excise duty@ 4% 14302 addition excise for paper manufacturer @1/8% 447 education cess 295 h.edu.cess 147 insurance @ 0.4 % 1491
my queries is that either insurance charge will taken for calculating vat or vat will calculate by excluding insurance charge
CAclubindia
