Central excise problem plz slove

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2013 1. Contracted price for delivery at buyer’s premises: ` 8,00,000. which included the following: (i). cost of drawings and design ` 4,000; (ii). Cost of primary packing ` 8,000 ; (iii). Cost of packing at buyer’s request ` 10,000; sales tax 28,000 and excise duty 12.36%; (iv). Octroi ` 2500; freight and insurance charges paid from factory to warehouse ` 20,000; (v). actual freight and insurance from place of removal(warehouse ) to buyer’s premises ` 45,600 Find Assessable Value

2. Tej Ltd. cleared 5 lakh biscuit packets each bearing a retail price of `20. Due to delay in transportation, the quality was affected and the goods had to be sold in public auction at Rs 10 per pack. The goods are notified under section 4A and Abatement rate is 35%. Find out the assessable value.

3. Calculate the assessable value from the following information: Total production 3000 units; sold 750 units @ 200 per unit and 950 units @ 190 and 150 units were distributed as free samples. The prices above are excluding taxes.

Solve this problems plz

ADITYA

ADITYA (Expert)
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29 September 2013
Hello,

reply to point no. 1.

Taxes are always calculated in the following manner :-

Basic Price
which may include drawing & Desigining, Packing, transportation and such other expenses

Excise Duty is always charged on the Basic Price

Sales Tax is charged on Basic + Exicise Duty

Octroi is charged on Basic + ED + ST

Accordingly you have to calculate your Assessable value

Point No. 2

Once you have cleared the goods, you can not reduce the price for excise duty payment purpose.

Point Number 3

Your question is not clear

Querist : Anonymous

Querist : Anonymous (Querist)

29 September 2013 PLZ Can u answer other 2 question?

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Querist : Anonymous

Querist : Anonymous (Querist)

30 September 2013 plz answer other 2 question!!!!!!!!!!!!