Excise duty rate on Marble slabs/ Tiles is Rs. 60 per sq. mtr. and the tariff rate of excise duty is 12%. Can anybody tell me whether duty @ Rs. 60 per sq. mtr. can exceed duty @ 12%.
09 November 2013
Thank You for your reply. But Sir,it is also mentioned in the act that if Govt has specified rate of excise duty on a particular item then duty shall be deposited on the basis of that specified rate only. Please send clarification in this regard, i will be thankful to you. Also, there is an e.g.. Please see & tell me what amount of duty is to be deposited on Marble slab;- Sale of 575.1347 sq mt. @ 226.044/- total bill amount is Rs. 130005.75. Excise duty @ Rs. 60 per sq. mt. will be Rs. 34508 (575.1347*60) + 3% cess while Excise duty @ 12% will be Rs.15600.69 (130005.75*12%)+3% cess. Please tell in the above mentioned e.g. how much amount of duty liability is to be paid to the Govt.
CAclubindia
