All Goods exempt under any notification to be excluded like

  • Sale of taxable Intermediate product if final product exempt
  • Transfer to Job worker as per notifications 214/86-CE, 83/94-CE and 84/94-CE
  • Export Clearances


Exam Questions

Question 15
Net value of clearances (excluding taxes and duties) of Gopal Manufacturers was Rs. 345 lakh
during the year 2013-14. During the year 2014-15, their net value of clearances (excluding
taxes and duties) was Rs. 365 lakh. Calculate excise duty payable by Gopal Manufacturers
during 2014-15, if excise duty rate is 12.5%.

View Answer
  1. Indirect Tax
  2. 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 11 years. He also provides Accounts Tax GST Training in Delhi and Pune.