02 August 2010
Need clarification regarding excise duty amount & vat (1)We are having our manufacturing unit in AP and transfer the finished goods from AP to Chennai under Stock transfer invoice with basic(99)+excise duty (10.3%)=total (109.19). (2)we are billing from chennai to our local customer with basic(inclusive of ED)ie Rs.109.19 + vat @4%=Rs.113.56. (3) Whether the basic price can be changed from chennai billing ? (4) we are doing only vat billing from chennai.
03 August 2010
You can change the basic price from chennai office. However if you pass on the ED then you have to give the same amount of your HO ED. you can add to your basic price of Rs. 109.19 plus sum amount (say 20) then the VAT rate is on 109.19+20=129.19*4%=5.17. therefor your total sale value would be Rs. 134.36
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