01 June 2012
is it possible for the traders who are not entitled to pay exise duty to collect excise duty(input) from customers????
for ex: X(manufacturer) sold goods to Y for 100+12.3(excise duty)=112.3 (say) again Y(not a manufacturer) sold goods to customers for 100+30(profit)+12.3(excise duty)which was collected previously by x+5(vat)?? y registered for excise duty
02 June 2012
As a trader the price to end customer is your landed cost plus your margin. So your purchase price assuming you as y is 112.30 and your sale price to customer would be 142.3 plus applicable vat or cat. As a trader you cannot collect excise separately. If you want to pass on the benefit of excise to your customer then you will need to register as a dealer under central excise
CAclubindia
