EXCISE -VALUATION ANS. 1 taxable cherish shall be determined as per sec. 4(1)(b) read with Rule 5 which provides that, Where any excisable goods are sold ✓ At a stake other than factory, ✓ Then the place of such(pre nary(pre no.inal)inal) excisable goods shall be deemed to be ✓ The transaction value, excluding the apostrophize of fare from the factory up to the place of delivery of such excisable goods. As per explanation 1- “ address of fare” includes- i. The actual cost of acid; and ii. In national where lading is averaged, the cost of transportation measured in concurrence with generally accepted principles of costing. And because assessee is having uniform charge all all all over India, it appears that assessee is following average freight, accordingly deduction shall be allowed on equalized basis and actual cost shall be ignored. Calculation of Equalized Freight direct of deliveryNo. of pieces soldActual Transportation charges Kolkata1,200NIL Gujarat60028,000 Biharfour hundred18,000 Kerala1,00054,000 add up3,200 1,00,000 Equalized Freight=Total transportation cost Total no. of units sold =1,00,000 =31.25 3,200 assessable note value=Sales price – equalized freight =2,000-31.25=Rs. 1,968.75 ANS.
2 enumeration of Assessable Value ParticularAmount (Rs) CPU20,000 Monitor10,000 Keyboard (i)3,000 bestow33,000 excavate and overheads10,000 TOTAL 43,000 Profit(Actual charged) 4,000 47,000 Add- Additional consideration (ii) 1,000 Assessable Value48,000 Excise Duty @ 15.3% advalorem (48,000 * 15.3/100)7,344 (Inclusive of 2% education cess, &1% SHE CESS) Notes:- i. load 1 to rule 6 provides where any...If you want to get a full essay, order it on our website: Ordercustompaper.com
If you want to get a full essay, wisit our page: write my paper