excise declaration by manufacturer

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pranav deshpande (Querist)
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16 May 2008 at present goods, manufactured by another person, are being sold on MRP. an option is contemplated to rent out the goods and not to sell them. in such a case, how excise declaration be given by manufacturer as goods are actually MRP based?

U S Sharma

U S Sharma (Expert)
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15 May 2011 on removal from factory itself, MRP is applicable

if goods are sent on rental basis, then advised not to do by self, as the rent would be added in valuation, if same is done by same person,