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Indirect Taxation
'The list price of the goods takes into account the two subsidies received ' Can you explain the meaning and treatment of it.Iam unable to understand
Answers (9)
Best Answer
List price already adjusted with two subisdies i.e. â?¹15,00,000 is after adjusted with central govt. Subsidy of â?¹2,10,000 and ngo subsidy of â?¹50,000 Just we have to ignore central govt. Subsidy it already deducted (allowed u/s 15) Add back ngo subsidy â?¹50,000 (which is not allowed as exclusion u/s 15)
Prakash Murugan
Is it correct? Check with your solution and say
I don't have doubt with the answer .I just want to know that they have mentioned list price includes subsidies.What does that mean??Is Rs.15 Lakhs is inclusive of 2.1 lakhs+50k because that is what I understand from the question.If anyone has more clarity,tell me
Thread Starter
Shankari CI don't have doubt with the answer .I just want to know that they have mentioned list price includes subsidies.What does that mean??Is Rs.15 Lakhs is inclusive of 2.1 lakhs+50k because that is what I understand from the question.If anyone has more clarity,tell me
It means the subsidy recieved from NGO and Government are already excluded from the List price. So the treatment will be , we add back only NGO subsidy to list price i.e. 50k
Manav Dixit
It means the subsidy recieved from NGO and Government are already excluded from the List price. So the treatment will be , we add back only NGO subsidy to list price i.e. 50k
Means the list price will take into account the subsidy? Is it like HINT ?
Thread Starter
Shankari CMeans the list price will take into account the subsidy? Is it like HINT ?
Yes it is a hint that subsides are already adjusted ( excluded)with the price