17 January 2011
Dear All I wish to share that the basic requirements for levy under MRP based valuation is that the goods should be covered under provisions of Standard of Weights & Measures Act.
The query is : if we are a dealer and import some small electronics items and we sell it in open markets affixing MRP sticker through appointed dealers. And we are passing the duty to dealers as the dealer do.
Can Section 4A will be applicable on us or the registration may be invoked by the department? Please guide us according to Standard of Weights & Measures Act. Also guide us where is compulsory to affixing MRP . Can a Dealer affix MRP sticket. Regards
14 February 2011
If the product falls under Notification issued under Section 4A, affixing mrp sticker amounts to manufacture and excise formalities have to be followed.
CAclubindia
