Kindly explain me is it necessary to pass excise cr to customer by examining the following example :
WORKING OF COST IN GST | WORKING OF COST BEFORE | ||||||
GST | |||||||
BASIC PRICE | 100.00 | BASIC PRICE | 100.00 | ||||
ADD : EXCISE 12.50 | 12.50 | ADD : EXCISE 12.50 | 12.50 | ||||
SUB TOTAL | 112.50 | SUB TOTAL | 112.50 | ||||
ADD : CST 2% | 2.25 | ADD : CST 2% | 2.25 | ||||
COST | 114.75 | COST | 114.75 | ||||
ADD : GP 10% | 11.48 | ADD : GP 10% | 11.48 | ||||
SELLING PRICE | 126.23 | SELLING PRICE | 126.23 | ||||
ADD : CGST 9% | 11.36 | ADD : VAT 6% | 7.57 | ||||
ADD : SGST 9% | 11.36 | ||||||
SELLING PRICE | 148.95 | SELLING PRICE | 133.80 | ||||
LESS EXCISE TO BE | |||||||
REFUNDED | 12.50 | ||||||
NET SALES PRICE | 136.45 | NET SALES PRICE | 133.80 | ||||
TAX TO BE PAID IN GST | TAX TO BE PAID IN VAT | 7.57 | |||||
CGST | 11.36 | ||||||
SGST | 11.36 | ||||||
TOTAL | 22.72 | ||||||
LESS : EXCISE CREDIT | 12.50 | ||||||
NET TAX TO BE PAID | 10.22 |