Plz.... help - Excise on Tool Amortisation

CA. BIJENDER KR. BANSAL (ACA, B.COM) (8148 Points)

10 October 2007  

Dear All,

As a manfacturer , we have charged Excise duty on tool amortisation cost on mould of Vendor company. i.e Assesable Value for Excise duty is Sales price plus tooling cost per unit. We charged Excise duty on it and deduct tooling cost from total bill amount.

Now our new vendor asked us regarding Rules/Notification/ Circular of Excise in which is it mentioned that Excise duty is to be charged on Tooling cost.

Plz ......... Help me . It is urgent.

Thanks & Regards

CA. B.K.Bansal