Dear All Members,
I have one doubt regarding MRP products kindly clarify.
We are charging ED on after taking abatement 35% (if MRP is 100 then ED will be 6.69 calculate on 65) and if these products are sales to end user(industrial consumer) that time ED to be charged on basic contract price not on 65 Pls comment it is correct or not.
eg: MRP = 100/-
Contact sales price = 45/-
Duty calculate as per following two method:-
if customer is dealer then charged on 65/- ED will be 6.69 (10.30%)
[45+6.69=51.69 is turnover for tax]
if customer is end user industrial consumer then ED will be charge on 45/- instead of 65/-
[45+4.63=49.63 is turnover tax]
Is it correct ?
CAclubindia
