Interested to Buy Any Domain ? << Click Here >> for more details...
our manufacturing company, i have received different type
of excise bill. for ex. abc invoice purchased oil 17966.88
qty @54.80 inducing excise duty 14% tn how separate rate n
excise calculated
- 1 Answers
- 2965 Views
- I also Faced
- E-Mail Answers
Answer / abhivirthi tax and industrial
Some dealers will issue sale bills to aggregate amount i.e. including tax. If tax is not shown separately the tax element and principal amount has to be arrived applying the following formula.
Rate of Tax X Aggregate of Sale Price
100 + Rate of Tax
By using the above formula, the rate of the commodity and tax or excise duty etc. will be separated and after arriving the rate of commodity, divide by quantity and the actual rate will be available.
14 X 17966.66 2206.46 is 14% Excise Duty
114
15760.42 is the rate of 54.80 quantity
------------
17966.88 is the invoice amount
------------
The above formula is available under Section 8-A Determination of Turnover of the Central Sales Tax Act, 1956.
Reply from:
ABHIVIRTHI Tax and Industrial Consultancy
R.R. Jagadeesan
VAT PRACTITIONER AND INDUSTRIAL CONSULTANT
H-63, Palaami Enclave, New Natham Road,
Madurai-625014
www.abhivirthi.blogspot.com
Cell: 9994990599
| Is This Answer Correct ? | 0 Yes | 0 No |
what are the present provident fund rates?
I have recived four c form for a fainancial year But c- form not in proper series For Exaple- c-form no. 1 for 1st quarter & 3 For Second Quarter 2nf For 3rd Quarter & 4 For Fourth quarter Please Tell Me Can I summit This Form in sale tax office in no Please tell me solution for that condition.
what is the rate of vat?tell me the detail of items which are mentioned in Vat Chart.
How to enter both TDS receivable & balance payment received in receipt voucher (Single voucher both should be covered) Please help me. I am totally confused.....
What is Rates and Taxes?
WHAT IS MAT
What is the Rate of Service tax for Short term accommodation services & Restaurant Services ?
what is the Finalization?
What is "E1 Form" ? what are the types in that? why it is used?
can penalty be imposed under sec 96 of vat act west bengalfor goods destroyed or damaged
what is the tax of business income ?
What is the present Central sales tax rate in Silvasa?
Audit 
