SIR,
KINDLY LET ME KNOW IF WE ARE FOLLOWING CORRECT PRACTICE OR NOT.
WE ARE SELLING THE GOODS & DETERMINING ASSESSABLE VALUE AS FOLLOWS:
BASIC VALUE: 10000/-
ADD: TRANSIT INSURANCE 5.5/-
ASSESSABLE VALUE 10006/-
BED @ 5% 500
ED CESS 10
HED CESS 5
PAPER CESS @ .125% 13
ED CESS 1
HED CESS --------
TOTAL 10535/-
ADD: CST @ 2% 211/-
ADD: FREIGHT: 700/-
GRAND TOTAL 11,446
WE ARE MAKING FRIEGHT ON BUYER'S BEHALF & THEREAFTER WE ARE RECOVERING IT FROM HIM, SO WE ARE NOT CHARGING EXCISE DUTY & CST ON IT.
IS IT THE CORRECT PROCEDURE? CAN YOU PLASE SUGGEST ANY ALTERNATIVE PROCEDURE IF THE CURRENT PROCEDURE IS WRONG.
PLEASE HELP ME OUT.