STOCK TRANSFER.
This query is : Resolved
13 October 2010
Dear Friends,
We have a dealer. From our manufacturing unit to dealer we are doing STOCK TRANSFER.In manufacturing unit we put Assessable value for a certain item 4000 and also put Excise duty (ie 10%, 2% and 1%) so after that the assessable value is become 4412.
Now if our dealer put Assessable value 4412 + VAT then we have to pay any differential excise duty? Or our dealer should put assessable value 4000 + VAT.
Kindly conform me
With thanks
Rd
We have a dealer. From our manufacturing unit to dealer we are doing STOCK TRANSFER.In manufacturing unit we put Assessable value for a certain item 4000 and also put Excise duty (ie 10%, 2% and 1%) so after that the assessable value is become 4412.
Now if our dealer put Assessable value 4412 + VAT then we have to pay any differential excise duty? Or our dealer should put assessable value 4000 + VAT.
Kindly conform me
With thanks
Rd
14 October 2010
Excise duty is not payable on VAT. No excise duty will be payable.
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