Tariff value is fixed at

  • 30% of transaction value in jewellery
  • 60% of retail sales price in case of ready made garments

Example: 1

Suppose a manufacture makes ready made goods and sells them for 10 lacs.

Retail sales price of goods is 30 lacs

Rate of duty on these is 12.5%

Compute excise duty payable

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Example:2  Solve Ex.1 assuming it is a jewellery

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Exam Questions

Question 9
Excise duty payable on cane molasses is Rs. 1,000 per ton. Excise duty on cane sugar is
12.5%. A manufacturer cleared 100 tons of cane molasses from his factory. He sold the cane
molasses @ Rs.15,000 per ton. Calculate the excise duty payable.

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.