J1ID -EXCISE RATE MAINTENANCE

[Former Member]

What is material Assesable Value why it has to be maintained in JI1D

[Lakshmipathi]

Dear rohith

Assessable Value (AV) is the 'Value' on which duty is payable as a percentage. Generally, by 'Value', we understand the price as mentioned in Bill or Invoice. However, for excise purposes, it is not possible to fully rely on such price as

(a) Duty is payable even if goods are not sold

(b) It is desirable to have uniform policy in fixing the AV

(c) Chances of manipulation in such price should be minimum.

Therefore, we need to maintain Assessable Value in J1ID.

Thanks

G. Lakshmipathi

[Former Member]

Hi Rohit,

The system uses this price to determine how much excise you can credit to your CENVAT account when you create a subcontracting challan.

if you give me brief i can help you out more.

if helpful REWARD points

Thank you .

Regards

Ram

[Former Member]

hi,

its the base value on which the the excise duty will be calculated. its generally done for stock tranfers. if the value is maintained here then the excise duty will be calculated on this value irrespective of the pricing procedure value.

saurabh