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EASYOFFICE

Duty on goods lying in stock.

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(Querist)
25 May 2013 A co. Manufactured the goods on 1.3.2013. On which duty was leviable @10%. On 4.3.2013 govt increased duty from 10 to 12 %. Now on 7.3.2013 co. Sold the goods out of goods on manufactured 1.3.2013. So my query is what will be rate applicable for goods sold? And reason.
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
25 May 2013 Excise duty will be payable at the rate of time of removal of goods from the factory gate.
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praveen makhija

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praveen makhija (Querist)
25 May 2013 I.e 12% will be applicable.
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
25 May 2013 Yes, it is ok.
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praveen makhija

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praveen makhija (Querist)
25 May 2013 Sir if duty is same and additional duty had been imposed by govt @ 15% over and above 10%. Then what will be the duty payable to govt.?
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praveen makhija

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praveen makhija (Querist)
25 May 2013 Sir if duty is same and additional duty had been imposed by govt @ 15% over and above 10%. Then what will be the duty payable to govt.?

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