payment of excise duty, Central Excise

[vikram singh]

Dear All,

           I have some confusion for calculating the amount of Excise Payable. So, I want to know that How we can calculate of payment of Excise Duty. Is we can set-off it with input of cenvat.

Regard

Vikram

Posts / Replies

[Mritunjay Kumar]

Dear vikram, 

There is Excise valuation Rules for determination of value on which you will have to pay excise duty. After determination of value as per Central Excise(Determination of value) Rules, 2000, you have to pay excise duty at the rate of 12.36.

The amount determined as per above rules will get deducted by the CENVAT credit you availed on the purchase of excisable raw materials and input service. The balance amount, you have to pay as Excise duty.