Q1
Purchase Price of First Stage Dealer
PURCHASE | 160000 |
EXCISE DUTY | 16000 |
TOTAL | 176000 |
Suppose he wants to earn profit of 10000
How much Excise duty should he charge in this case?
Prepare his Sales Bill
View AnswerSales Bill
SALES (160000+10000) | 170000 |
EXCISE DUTY (Same as Purchase) |
16000 |
TOTAL | 186000 |
Note
First Stage Dealer cannot charge Extra Excise duty (as he is not doing Manufacturing)
He can only transfer excise duty charged on Purchase
Q2
How much Excise duty will be paid by Different Parties in this case?
View Answer
Q3
Purchase Price of First Stage Dealer
PURCHASE | 160000 |
EXCISE DUTY | 16000 |
TOTAL | 176000 |
Suppose he wants to sell half goods and earn 6000 Profit
Make Sales Bill
View AnswerCost Price of Half goods=160000/2=80000
Profit=6000
Total Sales Price=86000
Excise duty will also be proportionately charged
(1/2 the excise duty on Purchases)
Sales Bill
SALES | 86000 |
EXCISE DUTY | 8000 |
TOTAL | 94000 |
Q4
Purchase Bill of First Stage Dealer
Purchase | 300000 |
(60000Kg*5) | |
Add | |
Ed 12.5% | 37500 |
Total | 337500 |
Vat 5% | 16875 |
Total | 354375 |
Suppose He Sells 60000Kg*7,Make Bill
View AnswerSales (60000Kg*7 | 420000 |
Ed | 37500 |
Total | 457500 |
Output Vat 5% | 22875 |
Grand Total | 480375 |
Suppose he Sells 23000Kg*8,Make Bill
View AnswerSale (23000*8) | 184000 |
Ed (37500/60000*23000) | 14375 |
Total | 198375 |
Output Vat 5% | 9918.8 |
Grand Total | 208294 |
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