CA RAJEEV (CHARTERED ACCOUNTANT) (54 Points)
23 March 2010goods sold by EOU to DTA of value u/s 14(1) 7500/-
basic custum duty 10 %
CVD IS 20 %
EDU. CESS ON IMPORTED GOODS IS 2%
SHEC IMPORTED GOODS IS 2%
CALCULATE IN EXACT AMOUNT OF EXCISE DUTY PAID BY EOU.........?????
AND ALSO
CALCULATE CENVAT CREDIT TAKEN BY DTA.......???????
Tharun Raj
(CMA)
(1016 Points)
Replied 23 March 2010
W.e.f 7-9-2009 the computation is as follows:
Assessable value 7,500
Add: BCD @ 5% 375(1)
Add: CVD @ 20% on 7875 1575(2)
Add: EC&SEC on 1575 47.25(3)
Add: Ec&SEC on 1+2+3 59.91(4)
total for 3(5) 9557.16
Additional duty u/s 3(5) 382.28(5)
Total custom duties 1+2+3+4+5 2439.4
Add: EC&SEC on 2439.4 73.18(6)
Total excise duty payable by 100% EOU 2513
Cenvat credit available
CVD 1575
Duty 3(5) 382.28
EC&SEC (3+6) 120.43
total 2077.71
Muraliraja
(Assisstant Manager - Accounts Receivable)
(49 Points)
Replied 23 March 2010
Very Very useful Question and Answer. Thanks both of you.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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