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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 ..... Tooling Cost Amortisation X X X X Extracts X X X X X X X X Extracts X X X X ..... ome 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 Accountact certificate for the prod ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uct 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 cost!!?? 2) Secondly, First I make ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 duty liability!!? Thanks in advance fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 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 tobe paid. 2.as per the p.o. from customer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tools cost is payabale by the customer . hence amortisation of tool cost must charge from the begning. if your supplied with out amortisation now amortisation cost must charge for the earlier spplies ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and pay duty with interest. for the arrears. X X X X Extracts X X X X X X X X Extracts X X X X
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