33/2005 rule

[Guest]

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wt about rule 33/2005 and 5% reverasal how much i will reversal only 5% round or 5% and ed 2% and shed 1% total 5.15% what is correct round 5% or 5.15% 

[YAGAY andSUN]

You would have to reverse only 5% as it is 'amount' not the duty of excise.

AI Summary

Reversal calculation applies to the specified percentage of the transaction amount, excluding excise duty and cess. The reversal is to be made on the amount itself and not on the duty of excise; the computation therefore excludes excise duty and cess and is confined to the specified percentage of the underlying amount.