Answer / aman

Central excise duty is an indirect tax which is charged on
such goods that are manufactured in India and are meant for
domestic consumption. The taxable fact is "manufacture" and
the liability of central excise duty arises as soon as the
goods are manufactured. The tax is on manufacturing, it is
paid by a manufacturer, which is then passed on to the
customer.

The term "excisable goods" means the goods which are
specified in the First Schedule and the Second Schedule to
the Central Excise Tariff Act 1985.

tell the ratio where the numerator and denominator should contain one from asset side and other from liabilities side

6 Answers   Capital IQ,

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From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.

0 Answers   D M Systems, Ignou,

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What is the Capitalmarket and speech 10 min in capital market? What is Mean by Share,Dividend,mutualfund, detail answer? details of Share market? What is mean by nav & npv over all finance related interview question?

1 Answers   TCS,

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What is the Journal Entry if "Office Expenses" of Company A is being made by Company B on behalf of Company A?

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What is T+2 rolli g settlement cycle?

0 Answers   Mellon,

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what is P/E?

2 Answers   Mellon,

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garner 1903 on partnership ruling and type of ruling

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