When Selling a goods to a party Excise Duty chargable on
VAT or not.
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Answer Posted / 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 |
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