Rate Difference, Central Excise

[Naresh Antil]

Dear Sir

I want to know that if we are making debit note for rate difference so we should calculate the excise for it or not please suggest me .

For example :- Material received @138 while actual rate was 137.75 for 100 kgs

Than difference is .25 so basic amount will be .25*100=25

Add Vat @4.2% 1.05

Total amount is 26.05

or

Excise duty will be calculated

Posts / Replies

[ganeshan kalyani]

In case of Short receipt of material you should raise Debit note with Excise duty and Sales Tax as you are not entitled to take Cenvat credit of material short received/Not received.