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Tara Khandelwal (Student CA Final ) (298 Points)

12 December 2017  

I have locally purchased goods on which only VAT has been charged. I have closing stock of these goods as on 30.06.2017. Can I claim excise duty on these goods by reverse calculation. 

For example: Goods purchased Amount : 100000, VAT charged : 14500 (taken as input in VAT returns)

Can I claim excise duty by reverse calculation i.e. (100000/112.5%)*12.5%