there is an assessee who is manufacturing the chappals and shoes of MRP 299/-, the turnover is less than 1.5cr. wherther the excixe duty shall be applicable or not? Please state the section and clause where it falls
Gupta Mohit (CA) (824 Points)
18 August 2011there is an assessee who is manufacturing the chappals and shoes of MRP 299/-, the turnover is less than 1.5cr. wherther the excixe duty shall be applicable or not? Please state the section and clause where it falls
praveen
(Chartered Accountant)
(6971 Points)
Replied 18 August 2011
I think it is applicable as
1) the limit is crossed
2) CETA also has classified the article under section XII and chapter 64
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Gupta Mohit
(CA)
(824 Points)
Replied 18 August 2011
the limit is not crossed yet i.e. Rs 1.5cr, so why the duty is applicable, i read the refered clauses and chapters, there is no indication of applicability of tax there, the rate of duty is specified.
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