When Selling a goods to a party Excise Duty chargable on
VAT or not.
Answer Posted / 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 |
Post New Answer View All Answers
What is RITC under UP VAT. and How it is calculated.
i want to learn income tax work please tell me about all dedutions exempations and income detail...how to calculate tax on net income
In the Balance sheet of a company you see the following details, Liabilities: Provision for tax - AY 2008-09 RS 200000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 Assets: Advance Tax- AY 2008-09 RS 150000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 On 15-03-2011, the assessment order for AY2008-09 was received and the final tax liability was stated to be RS 250000. Pass the journal entry for the closing of the relevant accounts in the books for the AY 2008-09.
Please explain how to pass entry for VAT setoff and Service Tax Credit?
Tell about dvat and dvat rate
what is the difference between captive consumption and cenvat in tally erp9 and when we have to use it
what diff. between Account ,Commerce and Finance?
which purchases is profitable for us a building material purchases from direct of contactor ?
If i want to change a proprietor concern yo a partnership concern. do i have to pay full tax on every product i have in stock or just simple make a partnership deed and apply a new pan card and register in sale tax department ?
What is the difference between Indian and us taxation
we are getting materials from outside the state and issuing form c to a local party, since the local party is consignee agent of party who sends the materials. what is name this type of transaction? is issuing form c correct and proper? please reply
How do you determine as to what TDS has to be deducted from each vendor supplying us the goods and doing labour work?
Is there any criteria for percentage define of TDS rates? and What is the major advantage of introducing DTC and GST by Central Govt?
sir mai ek bar cst online tax payment kar raha tha to sar maine tac par na click kar ke interst par click kar di ho mai kya karu please give a anwers
WHAT IS THE LIMIT ABOVE WHICH WE CAN DEDUCT THE TDS ON VARIOUS CATEGORY LIKE PRIFESSION, CONTRACTOR, INTEREST, RENT, SALARY ETC.