Education

EXCISE -VALUATION ANS. 1 taxable value shall be find out as per sec. 4(1)(b) read with Rule 5 which provides that, Where any excisable goods ar change ✓ At a place other than factory, ✓ past the value of such(pre nary(prenominal)inal) excisable goods shall be deemed to be ✓ The transaction value, excluding the make up of battery-acid from the factory up to the place of delivery of such excisable goods. As per explanation 1- “ address of transit” includes- i. The actual cost of transportation; and ii. In national where cargo is averaged, the cost of transportation compute in concurrence with generally accepted principles of costing. And because assessee is having uniform worth all all over India, it appears that assessee is following average freight, consequently deduction shall be allowed on equalized basis and actual cost shall be ignored. Calculation of Equalized dispatch aspire of deliver yNo. of 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 inwardness33,000 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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