Sachin Adsul (HOD Excise dept) (178 Points)
05 June 2009Respected sir,
we have received material from 100% EOU but the calculation done by him are not admissiable.
they assume Basic Price is 100
Coustom duty 15
Excise Duty & cess 9.48
total 24.48
Further cess 3% 0.73
total 25.21
further 2% 0 .50
further 1% 0.25
total 25.97
final Invoice Price 125.97
excise 10.23 modvatable
loss of duty 15.24 non modvatable
pls expain it is correct ?
sachin
dharmesh shah
(manager)
(28 Points)
Replied 06 June 2009
The purchase from an EOU is similar to that of actual imports.
All duties are to be paid and material removed only after that.
So, the calc. is fine & OK
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 08 June 2009
The duty paid by 100% EOU on DTA Clearance is Central Excise Duty (although duty calculation is done in equivalence of Custom Duty), and hence 100% Cenvatable.
CAclubindia
