18 February 2014
if a company had a stock of rs 1,00,000/- purchased at 12.36% excise duty. now the rate has changed to @ 10.30%. what is the effect either the company will incur a loss or profit or no profit no loss. please give detail calculation.
18 February 2014
There will be no effect on the profit or loss of the company. The excise duty liability is borne by the buyer and is NOT an expense for the manufacturer.
CAclubindia
