TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Excise Duty on Fertilizers: Clarification to Levy on MRP, Excluding Subsidies, Following Budget 2011-12 Guidelines.</h1> The circular clarifies that for fertilizers subject to government subsidies, excise duty should be levied on the Maximum Retail Price (MRP) and not on the subsidy component. This follows the Budget 2011-12 imposition of a 1% excise duty on certain fertilizers. The clarification addresses concerns raised by the industry regarding show cause notices issued for including subsidies in the assessable value, distinguishing the case from a Supreme Court ruling involving Fiat India. The government subsidy is not considered as additional consideration from the buyer, and thus, should not affect the excise duty calculation.
TaxTMI 
TaxTMI 
