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Duty and Tax calculation |
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Dear sir, While invoicing by a manufacturer first he will charge Central Excise duty on the rate, VAT or CST will charge to that value. I want to know why the VAT or CST charged on the total value (after excise duty calculation) why not to the basic rate. If any notification or circular is there please let me know. Thanks, Kiran Pai Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
Central Excise duty will be charges on the assessable value of the intended goods while VAT/CST will be charge on the taxable value of th intended goods. In VAT Laws, this has been defined in the Section 2 i.e. under definition. Please check the definition of the sales price in this regard. Page: 1 Old Query - New Comments are closed. |
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