on 09-10-2008 1:13 PM
Hi Friends,
I want to know whether Assessable value used in tax procedure..TAXINJ or TAXINN..
or both..
And what exactly the use of it..
with regards
Dear Azeez,
Assessable value is a base value for excise department.
Ex: If you have a material A with some specificaitons and its unit price is 100 Rs.
Then Customer Ordered for a material B with some other specifications and its unit price is 90 Rs.
And if you want to sent the Material A to customer as the stocks are readily available and Bill him actually for what he ordered i.e Material B(90Rs).
Excise department will not permit because of under valuation, as the excise duty to be paid for them will be less .
For this to track into account, you have to maintain Assessable Value for the material.
Hope this helps you.
Best Regards
Sri
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Dear Azeez
If your selling price for a material is INR 500.00 and you want the duty to calculate on INR 600.00, then in J1ID, if you maintain INR 600.00 for that material, in sale order / billing, duty will be calculated based on what you maintained J1ID master.
thanks
G. Lakshmipathi
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