Discussions Forum | ||||||
Home Forum Central Excise This
A Public Forum.
Submit new Issue / Query
My Issues
My Replies
|
||||||
Gift is liable to excise duty or not, Central Excise |
||||||
|
||||||
Gift is liable to excise duty or not |
||||||
A product gifted (not sold) by a manufacturing concern(say car by Maruti Udyog) in any contest is liable to excise duty or not?
Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
Central Excise duty is on Manufacturing of goods and for convenient purpose, it is being collected on the removal of goods. Therefore, Central Excise duty will be paid on such kind of removals. VAT will not be payable but the ITC on inputs involved in manufacturing of car will be burnout.
excise duty to be paid basing on the assessable value but not on the basis of commercial value. so you have to pay.
Sir, What will be the assessable value for a gifted car whether it may be only CAS4 amt or CAS4+10% or any other. Page: 1 Old Query - New Comments are closed. |
||||||