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Excise invoice in gold jewellery

DEVENDER THAKUR (Accountant) (589 Points)

01 May 2016

Respected Experts ! As the Excise duty has been levied on Gold Jewellery. What should be the formate of Excise Invoice. Will there be Prepared Seprate invoices for Excise purpose and VAT purpose or both should be charged in the single bill. Which Tax should be charged first; VAT or EXcise ? There is a little confusion.Please clear my doubts.

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U S Sharma (glidor@gmail.com) (21063 Points)
Replied 05 May 2016

Excise has its own format of Invoice, better to maintain that for small assessses, which should be enclosed with the vat invoice as proof of excise payment , Before taking in use , the assesee has to intimate the department the Serial numbers of invoice book to be taken in use such as 001 to 100, through ACES portal, in case of cancellation of any invoice due to any mistake , the assesee has to submit the rejected copy of invoice to department under a covering letter.

Excise is charged 1st, then after adding the basic value + excise , vat is charged

if your invoicing system contains the data prescribed in Excise invoice, then a common invoice can be maintained, however the assesee has to intimate the department regarding their invoicing system applied.

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