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TMI BlogTooling Cost AmortisationX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Friends, I am proud to become a member TMI Family and I wish you everyone A Happy New Year in advance. I have two queries on Tool Amortisation; 1) I will be amortising the Tool Cost as Cost A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccountact certificate for the product manufactured out said tool. As per CA tool life is 50000 nos but Tool gets spoiled after completion of 10000 nos. Now whether I require to pay duty balance tool c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ost!!?? 2) Secondly, First I make the supplies to customer and after some months I realise the tooling cost from customer for the goods supplied earlier. In this senario how to treat the excise dut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y liability!!? Thanks in advance for your valuable replies - Reply By r.rajkumar kumar - The Reply = 1.yes the balance duty is payable.total duty forthe tool less already amortized and balance tob ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e paid. 2.as per the p.o. from customer tools cost is payabale by the customer . hence amortisation of tool cost must charge from the begning. if your supplied with out amortisation now amortisa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion cost must charge for the earlier spplies and pay duty with interest. for the arrears. - Tooling Cost Amortisation - Query Started By: - Mayige Gowda Dated:- 31-12-2011 Central Excise - Got 1 Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ply - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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