Production of Making Shirt

Concept of Deemed Manufacturer - Basics of Excise

 

Example

Lux Ltd Purchases 1000 soap from A  Ltd @ Rs 4 each + Excise 12.5%

It sells goods @ Rs 10 each after putting its Label

Whether excise Duty Payable on Such excise?

-a- 

Yes, as Lux is a Deemed manufacturer.

He is liable to pay excise Duty


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  2. Practical Excise

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.