Ad valorem

Jishnu (CA CWA Final (Manager Audits))   (56 Points)

18 December 2012  

Hello

According to CBEC  1/2011 notification the excise duty is calculated at the rate of 1% ad valorem(presently it is 2%).  The notification contains goods specied according to sec 4A of Central  Excise Act, ie., MRP basis of valuation. Here my doubt is whether MRP Based value can be treated as Ad valorem value in this case

 

Jishnu