21 January 2011
how input tax credit will be claimed.
1st Buyer bought the material for 100 and has excise duty of 10 Rs. and other cess 3 Rs. total cost of the material is 113 and the same thing he sold it for 130rs basic cost.how he has to prepare the invoice to the second party
27 January 2011
For the dealer the excise duty passed on has tobe exactly what was paid. Therefore the billing wouldbe 130 basic + excise duty 10 total 140+ cess 0.30.
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