TMI Blogdifference between the sales turnover as per Excise invoices and VAT return.X X X X Extracts X X X X X X X X Extracts X X X X ..... Respected Experts, Good Evening to all. Sir, there is the difference of Rs. 249598 in the sales turnover as per excise invoices and VAT return. Sir, how to reconcile the excisable turnover. What may be the possible reasons. Pl. Reply. Thanks and regards sir. - Reply By Rajagopalan Ranganathan - The Reply = Sir, Normally sales turnover includes excise duty and cesses payable along ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with transaction value. Please check whether the difference of ₹ 2,49,598 represents the excise duty payable. Otherwise you to recheck the invoices issued by you to fix the difference provided you are using the same invoices to calculate assessable value for excise purpose and sales turnover for Vat purpose. - Reply By kailash singhal - The Reply = d/s i give the certain reasons which a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re causing the difference between sales turnover and as per turnover as per excise :- 1. as per excise person is clearing goods on the basis of maximum retail price where as his commercial price is less due to transportation charges , agent commission , state vat and entry tax and profit of chain of sellers etc 2. manufacturer is a deemed manufacturer and all other aspects are applicable a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s stated at point no. 1 3. manufacturer is clearing job work goods on full payment of duty and raising commercial bill for job charges only 4.manufacturer has returned goods to its supplier i.e. purchase return 5. manufacturer has goods to other party on loan basis 6.manufacturer has send goods on job work on full payment of duty 7. manufacturer has given rebate and discount after excise valu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e regards ca kc singhal , silvassa -- 9824102121 - Reply By Naveed S - The Reply = Yes, agreed with both above replies. Mostly, it has to be w.r.t. purchase return or rejected goods received and subsequently cleared. You may seek advise from your C.A. in the matter. - difference between the sales turnover as per Excise invoices and VAT return. - Query Started By: - JIGNESH PATEL Dated:- 1-2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -2015 Central Excise - Got 3 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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