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
2 Replies
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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