05 June 2017
Maximum Retail Price (MRP) provisions are applicable according to the provisions of LEGAL METROLOGY ACT, 2009 AND LEGAL METROLOGY (PACKAGED COMMODITIES) RULES, 2011. Mentioning MRP in the Excise Invoice was applicable according to the provisions of Section 4A of Central Excise Act and Excise Notification 49/2008. The MRP was mentioned for calculation of abatement value and assessable value for calculation of excise duty. Under GST Law there is no requirement of calculation of abatement and assessable value. Transaction value will be considered as assessable value for calculating GST. Therefore, mentioning MRP in the invoice will not be applicable.
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