Education

EXCISE -VALUATION ANS. 1 taxable value shall be compulsive as per sec. 4(1)(b) read with Rule 5 which provides that, Where any excisable goods be sell ✓ At a place other than factory, ✓ hence the value of such(pre nary(prenominal)inal) excisable goods shall be deemed to be ✓ The transaction value, excluding the damage of imparting from the factory up to the place of delivery of such excisable goods. As per explanation 1- “ address of merchant marine” includes- i. The actual cost of transportation; and ii. In national where clog is averaged, the cost of transportation cypher in concurrence with generally accepted principles of costing. And because assessee is having uniform footing all all over India, it appears that assessee is following average freight, so deduction shall be allowed on equalized basis and actual cost shall be ignored. Calculation of Equalized shipment aspire of deliveryNo. o f pieces soldActual Transportation charges Kolkata1,200NIL Gujarat60028,000 Biharfour hundred18,000 Kerala1,00054,000 Total3,200 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 Computation of Assessable Value ParticularAmount (Rs) CPU20,000 Monitor10,000 Keyboard (i)3,000 be33,000 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. bill 1 to rule 6 provides where any...If you want to get a full essay, order it on our website: BestEssayCheap.com

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