niranjan
14 May 2011 at 18:12
sir, pls solve my confusion.
on 1.1.2011 Mr x sold final product to her wife, Mrs. X at Rs. 1000/- per kg
Mrs. X sell all goods purchased from his husband to his son Mr Y. Mr. Y sells these goods in retail market.
Mrs. X sold the goods to Mr.Y as follows:
on 1.1.2011----@ 1500/-
on 15.1.2011----@ 2000/-
goods purchased on 1.1.2011 are sold by Mrs X to his son on 15.1.2011.
My confusion is that
what is the Assessable value of good sold by Mr. X to her wife Mrs. X on 1.1.2011?
whether 1500/- or 2000/-.
Thank U for your help.
niranjan
14 May 2011 at 04:07
sir, pls solve my confusion.
on 1.1.2011 Mr x sold final product to her wife, Mrs. X at Rs.1000/- per kg
Mrs. X sell all goods purchased from his husband to his son Mr Y. Mr. Y sells these goods in retail market.
Mrs. X sold the goods to Mr.Y as follows:
on 1.1.2011----@ 1500/-
on 15.1.2011----@ 2000/-
goods purchased on 1.1.2011 are sold by Mrs X to his son on 15.1.2011.
My confusion is that
what is the Assessable value of good sold by Mr. X to her wife Mrs. X on 1.1.2011?
whether 1500/- or 2000/-.
Thank U for your help.
Anjesh
13 May 2011 at 17:32
what is the rate of excise duty on liquor chocolate???
what is required permission needed to be sought for manufacturing the same in mumbai ?????
niranjan
07 May 2011 at 01:35
I read followings are components of CVD u/s 3(1) of CTA:
BED, SED, ADD(T&T),ADD(GSI), NCCD, ADD(2003), Edu. Cess, SH Edu. Cess.
is there also any simillar components of CVD u/s 3(3), if yes, please specfy these components.
Thanks for answering my question
hardeep
03 May 2011 at 16:37
Dear Sir,
We are purchasing/procuring excisable goods without payment of excise duty from a company against CT-1 Bond for export. The company providing us goods against ARE-1 form in a natural colour.
We are further getting these goods zinc plated from a job worker who charging us Service tax in his bill.
We want to know, can we take credit of this service tax amount as a input service cenvat credit.
Please reply and oblige.
Very thanks.
Hardeep
Gaurav Gupta
02 May 2011 at 10:19
I am confuse regarding in Excise Duty on Garments The Excise Duty will charge on 45% on MRP whether transaction value is more or less. (ignores Transaction Value)
or
The Excise Duty will charge on transaction value. as per section 4 of Excise Tariff Act.
Regards
GAURAV GUPTA
arjun prajapati
27 April 2011 at 15:19
In Punjab there is Surcharge of 10% on vat ie. if our rate is 5% then after including surcharge vat =5.5%. Now my Query is given below
Sales value of goods=1,00,000/-
Output vat @5% =5,000/-
Surcharge on above =500/-
Party A/c is debited 1,05,500/-
Now in Punjab there is 2 parts of total tax payble is 90% & 10%.
If we take total tax as 5,500/-
90% = 4950/-
10%= 550/-
or
90% =5000(ie flat 5%)
10% =500 (ie 10% of 5000)
which one is correct.
Anonymous
26 April 2011 at 17:34
Respected Sir,
I am a dealer in monofilament cloth and narrow woven fabric and covered under the vat act2003 under sh.1 37A.It states textile fabric made of artificial silk is exempt from sales tax.Howerver there is confusion arising with our product and it is been confused with HDPE Fabric and hence taxable.We moved The Sales tax tribunal court stating that the textile fabric goods are covered under additional duty of central excise act and earlier goods like mosquito net,elastic tape was made exempt under this context.The court directed us to move to the Finance Secretary and he will dispose of the matter within 4 months from the date of submission of the papers.
I deposited the papers on 22.9.2008 and till date no response.
However with the passing time goods were seized and relesed by the officers recording that monofilament clot is a textile fabric made of artificial silk and no way bill is required for the same to import these goods.The officer in charge have made assessment stating monofilament cloth to be tax-free goods.
Now recently goods are seized and upon production of the relevent papers the central section dept.are of the view that if the Finance Secretary has not considered the matter they cannot establish any view.
Even notification under Sec8(5) of WB states artificial silk will have the same meaning as under additional duty.of excise.
There are many case laws to establish the diff. between HDPE Fabric and monofilament fabric.
Now I am in a mess and am unable to decide how to proceed and who can actually decide and identify the product.
Please help.
Regards
Sanjay.
Anonymous
26 April 2011 at 14:26
Dear Sir
As per below links appears that as per supreme court no Excise duty applicable on Ayurvedic Medicines
1) parliamentoindia.nic.in
2) timesofindia.indiatimes.com/articles/ msid-1447233
3)www.business-standard.com/india/news/no-dutyayurvedic-medicine
Please reply me so that we can follow as per rules.
thanking you
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pls anybody clear my confusion
sir, pls solve my confusion.
on 1.1.2011 Mr x sold final product to her wife, Mrs. X at Rs. 1000/- per kg
Mrs. X sell all goods purchased from his husband to his son Mr Y. Mr. Y sells these goods in retail market.
Mrs. X sold the goods to Mr.Y as follows:
on 1.1.2011----@ 1500/-
on 15.1.2011----@ 2000/-
goods purchased on 1.1.2011 are sold by Mrs X to his son on 15.1.2011.
My confusion is that
what is the Assessable value of good sold by Mr. X to her wife Mrs. X on 1.1.2011?
whether 1500/- or 2000/-.
Rule 9 in the exact language is writte as follows--
--When the assessee so arranges that the excisable goods are not sold by an assessee except to or through a person who is related in the manner specified in either of sub-clauses (ii), (iii) or (iv) of clause (b) of sub-section (3) of section 4 of the Act, the value of the goods shall be the normal transaction value at which these are sold by the related person at the time of removal, to buyers (not being related person); or where such goods are not sold to such buyers, to buyers (being related person), who sells such goods in retail :
Provided that in a case where the related person does not sell the goods but uses or consumes such goods in the production or manufacture of articles, the value shall be determined in the manner specified in rule 8.
so i am thinking that AV of goods removed from X to Mrs. X on 1.1.2011 should be Rs. 1500/-
is i am correct or not?
Thank U for your help.-