21 November 2012
Dear Sir We are a manufacturer of Ready Mix Concrete. We are entered into a agreement with private parties for supplying the ready mix concrete. One such party not purchasing the the ready mix concrete upto the agreed quantity. As per agreement the shortfall quantity was calculated and billed to party. In that case actually quantity not supplied but the party accept to pay for shortfall quantity amount as per agreement. My Question is whether excise duty applicable for that shortfall quantity or not. One more question is at the time of agreement per quantity is Rs.4500 and billed the same. But later it is fixed for Rs. 5000. Party is accepting to pay the amount including already purchased quantity. Whether excise duty is applicable to already supplied quantity. Please suggest me Thanking You S.Mohan
CAclubindia
