TaxTMI 
TaxTMI 
TaxTMI 
what value we need to show for Free of Cost Products in Excise Invoice.
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....hat value we need to show for Free of Cost Products in Excise Invoice.<br> Query (Issue) Started By: - Ram Dompaka Dated:- 14-9-2015 Last Reply Date:- 15-9-2015 Central Excise<br>Got 4 Replies<br>Central Excise<br>Respected Sir, We are dealing with excisable products.Recently, we announced that, if the customer purchased 2 of product "X" we will give 1 of Product Y as free of cost.Both ....
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....the products are excisable.Now, my doubt is how we need to show the "Free of cost material" in Excise Invoice. We must pay excise duty on Product Y but its value zero in Invoice. Please guide us. Thanks in Advance. Regards, Rambabu.D Reply By YAGAY AND SUN: The Reply: In our view, Cost + 10% would be sufficient for calculating and paying C.E. Duty. Reply By Rambabu Dompaka: The R....
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....eply: Thanks for your reply sir. Whether we need to show that portion in Excise invoice ? Regards, Rambabu.D Reply By Laxmikant Khandayataray: The Reply: Your offer is buy two get one free which means you are charging price of 3 against 2.So what ever may be your excise invoice would be showing number of units cleared with assessable value which should not be less than assessable value of ce....
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....nvat taken for the used inputs for those 3 units cleared.If you are following this procedure then no worry for excise. Laxmikant Reply By Rambabu Dompaka: The Reply: Thanks for your reply sir. Yes, we are generating another internal document for Free of cost material, in that we are charging ED on 110% cost and remitting to dept. Regards, Rambabu.D<br> Discussion Forum - Knowledge Sharing ....