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TMI BlogDiscount in billX X X X Extracts X X X X X X X X Extracts X X X X ..... Discount in bill X X X X Extracts X X X X X X X X Extracts X X X X ..... al 17817.86 Less: Discount @ 1.65% on Basic Price 266.54 Balance Value 17551.32 Sales Tax @ 2% 351.03 Bill Value 17902.35 My query is that is always excise duty is charged irrespective of discount as shown in above calculation.i.e.can we not charge discount on Basic price & then do billing on balance amount. Pls clear it. Reply By SANJIV KOTHARI: The Reply: No, excise duty is leviable on Ba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sic price only. Your calculation is in line with law. Sanjiv Reply By Mridul Sethi: The Reply: Sir, can you plz give me the reference of Rule/Act in this regard. Reply By Pradeep Khatri: The Reply: Please refer circular no. 354/81/2000-TRU dated 30-06-2000 in this regard. Further, also refer chapter 3 Part III Para 2.5 (iv) of CBE&C's manual, 2001. Reply By raj kumar shukla: The Reply: IF T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... HE DISCOUNT IS A GENUINE TRADE DISCOUNT AND KNOWN TO THE CUSTOMER PRIOR TO REMOVAL OF GOODS AND ACTUALLY TRANFERRED O CUSTOMER, WHY CAN'T THIS BE ABATED FROM BASIC PRICE? Reply By raj kumar shukla: The Reply: PLEASE ALSO SEE PARA 2.5 (2) IV OF MANUAL OF SUPPLEMENTARY INSTRUCTIONS. Reply By gourav singhal: The Reply: sir you r absolutely right. discount will be charged after excise. but excise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duty is charged on abattment value of MRP. X X X X Extracts X X X X X X X X Extracts X X X X
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