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When Selling a goods to a party Excise Duty chargable on
VAT or not.
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Answer / harrie007
Excise duty is charged on production.
it is after that, that the VAT is charged on the aggregate
of Assessable value and Excise Duty.
It can be understood as follows:-
COST
+PROFIT
-------------
ASSESSABLE VALUE
+EXCISE DUTY
--------------
AMOUNT BEFORE SALES TAX
+VAT
-------------
SELLING PRICE
-------------
I hope it will help you.
Regards
Harish
| Is This Answer Correct ? | 77 Yes | 11 No |
Answer / sudha
no excise duty is chargeble on total sales not on vat.
| Is This Answer Correct ? | 32 Yes | 7 No |
Answer / ashim
Excise Duty depends on the prodoct itself, we have to find
if the product is a manufacturing products, generally the
tax is paid before the product is released from the
factory. It is mandatory to pay Central Excise duty
payable on the goods manufactured, unless exempted eg.,
duty is not payable on the goods exported out of India. In
few products such as Alcohol the duty is collected by the
state Govt. Excise duty is charge before the charge of VAT.
| Is This Answer Correct ? | 16 Yes | 0 No |
Answer / paras agrahari
Excise duty is charged on production.
it is after that, that the VAT is charged on the aggregate
of Assessable value and Excise Duty.
It can be understood as follows:-
COST
+PROFIT
-------------
ASSESSABLE VALUE
+EXCISE DUTY
--------------
AMOUNT BEFORE SALES TAX
+VAT
-------------
SELLING PRICE
-------------
I hope it will help you.
Regards
Harish
| Is This Answer Correct ? | 16 Yes | 3 No |
Answer / amit
Selling price + Pack chs on this amount Excise duty is
payble & vat will be pay on gross amount (Basic +
pak.chs+Ex.duty)
| Is This Answer Correct ? | 13 Yes | 0 No |
first sale price + excise duty + insurance and loading etc
thereafter vat to be calculated
| Is This Answer Correct ? | 8 Yes | 4 No |
Answer / rajesh
I think excise is charged on manufacturing cost & profit figure is not to be included in calculating excise duty!
| Is This Answer Correct ? | 2 Yes | 4 No |
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Audit 
