All Goods exempt under any notification to be excluded like

  • Sale to EOU/SEZ/STP/EHTP/UN
  • 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

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CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides GST Training in Delhi. Register now.