During the course of Audit of an Ayurvedic Company i found that Excise duty was not Chargerd on the sales made by them. Please Help me.
Raghavendran
(Article Clerk)
(27 Points)
Replied 07 December 2008
| Originally posted by :Naveen Chand Khulve | ||
| " | During the course of Audit of an Ayurvedic Company i found that Excise duty was not Chargerd on the sales made by them. Please Help me. | " |
Ayurvedic medicines are exempted from excise duty...
The criteria is "Ayurvedic medicines" not ayurvedic company...
Exemption from Excise Duty on Medicaments used in Ayurvedic system under Notification No. 75/94-CE
https://www.cbec.gov.in/excise/cx-circulars/cx-circulars-96/196-96-cx.htm
There are lot of disputes all over country to prove their product as medicine since cosmetics or edible items are not allowed for exepmtion...
Examples:
https://timesofindia.indiatimes.com/articleshow/1447233.cms
https://www.thehindubusinessline.com/blnus/28211406.htm
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
CAclubindia
