what is procedure for caluculating centeral excise on MRP basis?
centeral excise on MRP
rudram77 (Assitant Accounts Manager) (166 Points)
24 February 2010
1 Replies
CMA.Baskar.V
(Cost Accountant)
(400 Points)
Replied 26 February 2010
hi prakash,
Under section 4A of the Excise Act, the duty charged on the retail sale price decleared on Excisable goods, less amount of abatement as notified by the Goverment. Before calculating Excise duty of MRP the following need to be considered :
1. The goods should be covered under provision of Standard Weights and Measures Act
2. If more than one Retail price printed in package, the maximum of such MRP will be considered.
3. The 'retail sale price' should be the maximum price at which excisable goods in packaged forms are sold to ultimate consumer
By CMA.Bhaskar.V
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