Assessable Value

This query is : Resolved

Maheindra (Querist)
Follow

11 April 2010 Dear Sir,

We are manufacturer of Ayurvedic Medicines.

At present we are paying the excise on MRP based i.e. 35% abatement we are taking.

In above case the invoice prepared under this is on higher side beacause we are giving almost 55 to 60% as scheme and discount to the buyer.

My question is whether we can go for transaction value and not for 35% abatement on MRP.

Mahenndra

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
Follow

14 April 2010 The payment of excise duty on MRP depends on whether the product has been specified under Section 4A.Medicaments oter tha those used exclusively in ayurvedic... in chapter 30 are covered.
If yr product is exclusive used in ayurvedic then you could use transaction value.