Sanket Damodar Karve (Business) (179 Points)
23 March 2010Can anybody please explain:
How the excise need to be calcuated if a person is dealer.
Bought 100 kg @ 1000per kg.= Rs.10,00,000.
Now want to levy excise on sale of 45kg. @ 1200.
Now whether to take proportionate amt for 45kg. ( @ 1000/-) or to take @ 1200. Please explain.
Ram Avtar Singh
(Nagari Sultanpur U.P.Delhi)
(14497 Points)
Replied 23 March 2010
Dealer should pass on duty to excise user
Duty on Purchase
------------------------- X Quantity of sale= duty pass on
Quantity Purchase
same procidure on cess to be fallow.
Ram Avtar Singh
(Nagari Sultanpur U.P.Delhi)
(14497 Points)
Replied 23 March 2010
Respected sir
Dealer should pass on duty to consignee on sale of goods
satya
(Executive Excise)
(1839 Points)
Replied 23 March 2010
CA Priya
(CS Final)
(1049 Points)
Replied 24 March 2010
Hey people.......... The First stage and second stage dealers are also dealers and they can pass the Excise and registration ios mandatory for them......... I agree with the formula provided by Avatar.......
Himanshu
(Chief Accountant)
(96 Points)
Replied 25 March 2010
I am agree with RAM AVTAR'S opinion.
This is the only perfect method for calculation excise duty in dealer case.
HS Negi
(Senior Executive- F&A)
(590 Points)
Replied 27 March 2010
Ya,
I agree with Mr. Ram Avtar Singh. The formulla suggested by him is correct.
Regards
Harendra Singh Negi
CAclubindia
