Mrp based valuation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 July 2012 THE MANUFACTURER REMOVES/TRANSFER THE GOODS FROM FACTORY TO BRANCH/DEPOT AFTER PAYING THE EXCISE DUTY ON BASIS OF THE MRP AFTER ABATEMENT. NOW AT THE TIME OF SALE FROM THE DEPOT, WHETHER GOODS CAN BE SOLD AT HIGHER/LOWER PRICE THAN THE ASSESSABLE VALUE CHARGED EARLIER AT THE TIME OF TRANSFER/ REMOVAL FROM THE FACTORY TO DEPOT.
MY QUERY IS WHETHER IT CAN BE SOLD AT HIGHER/ LOWER PRICE AND INVOICE CAN BE RAISED BY SHOWING HIGHER/LOWER BASIC PRICE.

Arun Kumar Singh

Arun Kumar Singh (Expert)
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03 July 2012 If goods is consumer products then can not be sold more than MRP value.

Querist : Anonymous

Querist : Anonymous (Querist)

04 July 2012 Sir, As Rule 5 of Determination of Retail sale price of excisable goods rules 2008, we can alter or temper the MRP and we have to pay excise duty on such increased MRP. But my query is whether i can raise invoice from depot at lower price than MRP.

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Arun Kumar Singh

Arun Kumar Singh (Expert)
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04 July 2012 You are perfectly right alter or temper on the MRP value is amounts to manufacture. You can raise the commercial invoice from depot at lower price than MRP. If you have any doubt contact me.