MRP
This query is : Resolved
20 June 2009
'M'Auto spring manufacturer bought an sub-component Rubber pad for assembling in to the Spring.
Also the bought out rubber pads as is condition (no packing involved)are sold to another 'N'auto company which is a manufacturing a car motor and also a spare parts selling company.N company sells rubber pad to his excluive spare Parts dealer.
Whether MRP(Maximum Retail Price) rate will be applicable to 'M' Company.
Please clarify.
Regards
V.Ganapathysubramanian
Also the bought out rubber pads as is condition (no packing involved)are sold to another 'N'auto company which is a manufacturing a car motor and also a spare parts selling company.N company sells rubber pad to his excluive spare Parts dealer.
Whether MRP(Maximum Retail Price) rate will be applicable to 'M' Company.
Please clarify.
Regards
V.Ganapathysubramanian
30 June 2009
MRP rate is not applicable. In this case Excise duty is to be paid under Cenvat Credit Rules, equivalent to the credit taken.
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