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Posted: Thursday, July 23 2009. 18:20

Maharashtra slashes Duty on Imported wines

As announced by delWine earlier, the notification has come today that the excise duties has been slashed with immediate effect. The VAT has also been brought down from 25% to 20%. According to this notification now Excise Duty is payable on MRP at the following slab rates.

S.No.

MRP Slab

Excise Duty

1

MRP Up to Rs. 900/-

Rs.400/- Per Bulk Liter

2

MRP between Rs. 901/- to Rs. 6000/-

Rs.300/- Per Bulk Liter

3

MRP above Rs. 6000/-

5% of MRP

& formula to calculate MRP is changed from

Current Formula: (MCX4) + (MC-C/OFF) X 1 + CUSTOM DUTY + VAT = MRP

Revise Formula: (MCX2) + STATE EXCISE DUTY + CUSTOM DUTY (160% OF ASS. VALUE) + VAT @ 25% = MRP

According to this notification now Excise Duty is payable on MRP at following slab.

S.No.

MRP Slab

Excise Duty

1

MRP Up to Rs. 900/-

Rs.400/- Per Bulk Liter

2

MRP between Rs. 901/- to Rs. 6000/-

Rs.300/- Per Bulk Liter

3

MRP above Rs. 6000/-

5% of MRP

& formula to calculate MRP is changed from

Current Formula: (MCX4) + (MC-C/OFF) X 1 + CUSTOM DUTY + VAT = MRP

Revise Formula: (MCX2) + STATE EXCISE DUTY + CUSTOM DUTY (160% OF ASS. VALUE)
+ VAT @ 25% = MRP

The detailed report and authenticity data will be posted in detail later. But please note that VAT has now been reduced to 20%. Therefore, all calculations may be done at 20% VAT .

English 1 English 2 English 3
Marathi 1 Marathi 2 Marathi 3

 

 

Comments:

 

Subhash Arora Says:

Thank you. It is good to know you liek the blog-in the evenings. I hope with a glass of wine!

Posted @ September 23, 2010 16:31

 

Silvia Says:

I am always excited to visit this blog in the evenings.Please churning hold the contents. It is very entertaining.

Posted @ September 23, 2010 16:10

 

Silvia Says:

elc44v I am always excited to visit this blog in the evenings.Please churning hold the contents. It is very entertaining.

Posted @ February 20, 2010 14:42

 
       

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