Regarding excise exemption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 May 2015
Respected Sir
We manufacturer of Pharma Product formulation . From 2005 I am manufacturing product in exemption period. Now we fall in excise. and excise is MRP based e.g. MRP's 64.5% value. and BED 6 %. I Read notification no. 01/2011-CE DT. 1.3.2011.and amendment no 16/2012 dated 17.03.2012, in this notification , if we are not taking any Input Credit from purchase and any service than only 2 % excise will paid to department on m.r.p. , now please guide us regarding this notification, It is urgent
We manufacturer of Pharma Product formulation . From 2005 I am manufacturing product in exemption period. Now we fall in excise. and excise is MRP based e.g. MRP's 64.5% value. and BED 6 %. I Read notification no. 01/2011-CE DT. 1.3.2011.and amendment no 16/2012 dated 17.03.2012, in this notification , if we are not taking any Input Credit from purchase and any service than only 2 % excise will paid to department on m.r.p. , now please guide us regarding this notification, It is urgent
29 May 2015
The excise duty at the rate of 2% without taking cenvat credit. You should consult with any professional for abatement on MRP based.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Disallowance of Section 43B(h) to sez units
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Bogus purchase treatment for it act gst dealer
- Gst input for FY 23-24
- Company registration : Rental agreement or NOC?
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
