27 July 2010
Dear Experts, A client gives trade discount to most of the customers (note - not to all the customers) while valuing for the purpose of excisability they are valuing the goods net of trade discount. Are they doing the right thing? Please tell me the sections which i have to verify as per the Valuation rules of excise. With regards, Rajesh
08 August 2010
Excise Duty is always payable on Transaction Value.
Kindly ask you client to keep proper record of purchase orders from his customers or his sales policy to prove that rate charged by him are correct and are at par as per the terms and conditions of the contract or his sales policies.
CAclubindia
