Gift is liable to excise duty or not

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..... Gift is liable to excise duty or not
Query (Issue) Started By: - Mridul Sethi Dated:- 30-5-2012 Last Reply Date:- 31-5-2012 Central Excise
Got 3 Replies
Central Excise
A product gifted (n .....

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..... ot sold) by a manufacturing concern(say car by Maruti Udyog) in any contest is liable to excise duty or not? Reply By Pradeep Khatri: The Reply: Central Excise duty is on Manufacturing of goods and f .....

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..... or 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 m .....

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..... anufacturing of car will be burnout. Reply By MANDAVILLI RAMAKRISHNA: The Reply: excise duty to be paid basing on the assessable value but not on the basis of commercial value. so you have to pay. .....

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..... Reply By Harishanker Patel: The Reply: Sir, What will be the assessable value for a gifted car whether it may be only CAS4 amt or CAS4+10% or any other.
Discussion Forum - Knowledge Sharing .....

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