Sirs,
If the Manufacturing Company want to sell some goods for Sample purpose.
What is the procedure concerned with Excise Duty & VAT in Invoice.
Where the amount will reflect in P& L and B/S.
Thanks
L KANAGARAJ (Assistant Manager-Finance) (615 Points)
15 March 2010Sirs,
If the Manufacturing Company want to sell some goods for Sample purpose.
What is the procedure concerned with Excise Duty & VAT in Invoice.
Where the amount will reflect in P& L and B/S.
Thanks
Vinay
(Consultancy)
(39 Points)
Replied 15 March 2010
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The VAT is applicable on the sale of goods nad hence there will be no liability for VAT. Secondly the excise duty is applicable on the production of goods hence you will have to pay the excise duty on the goods taht are being sent as sample. The sample being a sales promotion expense (by nature) hence will have to be taken under the head selling expenses. originally posted by : L KANAGARAJ |
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Sirs, If the Manufacturing Company want to sell some goods for Sample purpose. What is the procedure concerned with Excise Duty & VAT in Invoice. Where the amount will reflect in P& L and B/S. Thanks |
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GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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