Kishore Kumar (Head) (24 Points)
25 March 2011Hi,
we are into bakery manufacturing, we sell products at Baseprice+Excise+Tax, Also we give margins on baseprice to customers. We have the provision for 70% abatement for cookies and chocolate, can anyone please help me on the calculations for the invoice or a softcopy of the invoice for the same.
Thanks
Pankaj Arora
(Learner)
(3134 Points)
Replied 25 March 2011
Say product cost is Rs.100
Than charged 3 % ED
E.Cess 1 %
SHE Cess 2 %
Or other taxes if any on it.
satya
(Executive Excise)
(1839 Points)
Replied 30 March 2011
Pinky Agarwal
(Chartered Accountant)
(426 Points)
Replied 04 April 2011
As per my view...
Like say product is of Rs. 100
by taking abatement of 70%, your taxable value would be Rs. 30.
on which 10% excise duty, 2% E.cesws and 1 % S.H.E. Cess is payable..
CA Lokesh Pokharna
(CA (Ahmedabad Bhilwara Chittorgarh))
(4128 Points)
Replied 05 April 2011
yes agree with pinky..
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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