TaxTMI 
TaxTMI 
Discount in bill
X X X X Extracts X X X X
X X X X Extracts X X X X
....iscount in bill<br> Query (Issue) Started By: - Mridul Sethi Dated:- 6-12-2011 Last Reply Date:- 3-1-2012 Central Excise<br>Got 6 Replies<br>Central Excise<br>Sir, Pls let me clear that, for excise duty calculation is discount contant is considered or not. Actually we raise bill a party in the below manner. Qty 100 Basic Price 161.54 Basic Value 16154.00 BED@10% 1615.40 Cess @ 3% 48.46 Tota....
X X X X Extracts X X X X
X X X X Extracts X X X X
....l 17817.86 Less: Discount @ 1.65% on Basic Price 266.54 Balance Value 17551.32 Sales Tax @ 2% 351.03 Bill Value 17902.35 My query is that is always excise duty is charged irrespective of discount as shown in above calculation.i.e.can we not charge discount on Basic price & then do billing on balance amount. Pls clear it. Reply By SANJIV KOTHARI: The Reply: No, excise duty is leviable on Bas....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ic price only. Your calculation is in line with law. Sanjiv Reply By Mridul Sethi: The Reply: Sir, can you plz give me the reference of Rule/Act in this regard. Reply By Pradeep Khatri: The Reply: Please refer circular no. 354/81/2000-TRU dated 30-06-2000 in this regard. Further, also refer chapter 3 Part III Para 2.5 (iv) of CBE&C's manual, 2001. Reply By raj kumar shukla: The Reply: IF TH....
X X X X Extracts X X X X
X X X X Extracts X X X X
....E DISCOUNT IS A GENUINE TRADE DISCOUNT AND KNOWN TO THE CUSTOMER PRIOR TO REMOVAL OF GOODS AND ACTUALLY TRANFERRED O CUSTOMER, WHY CAN'T THIS BE ABATED FROM BASIC PRICE? Reply By raj kumar shukla: The Reply: PLEASE ALSO SEE PARA 2.5 (2) IV OF MANUAL OF SUPPLEMENTARY INSTRUCTIONS. Reply By gourav singhal: The Reply: sir you r absolutely right. discount will be charged after excise. but excise d....
X X X X Extracts X X X X
X X X X Extracts X X X X
....uty is charged on abattment value of MRP.<br> Discussion Forum - Knowledge Sharing ....