Rahul Agarwal (Chartered Accountant) (213 Points)
22 September 2010Hi,
In case of MRP based valuation, when there are many prices printed on a product, different for a different region..which price will be considered under sec 4A of Central Excise Rules.
Please clarify
Regards,
Rahul Agarwal
Prabhat Kumar
(Advocate & Consultant)
(1912 Points)
Replied 24 September 2010
If any excisable goods bears more than one retail price the maximum of such retail price shall be deemed to be retail sale price (Sec 4A explanation 2(a) CEA 1944)
Rahul Agarwal
(Chartered Accountant)
(213 Points)
Replied 27 September 2010
What if there are many prices..and each of them is for a different place..?
Chinmay
(Accounts Professional)
(356 Points)
Replied 30 September 2010
The highest price will be teated as MRP.....
Harsha
(Chartered Accountant CS (Final))
(227 Points)
Replied 30 September 2010
Yes, highest price should be taken as MRP price subject to abatements available.
RENGARAJ R.K
(ADVOCATE)
(7557 Points)
Replied 22 August 2011
There is no restriction that the MRP should be the same and therefore one can have region wise separate MRP and it can be printed in the packing materials. This is allowed in Weights and Measures Act and packaged commodities Act also.
For calculating excise duty u/s 4A of the CE Act, one should take the highest MRP printed in the packing material.
rengarj r.k
cn adhikari
(manager-finance)
(28 Points)
Replied 24 August 2011
The highest MRP price will be treated as MRP.
R P Ananthakumar
(Sr. Officer - Central Excise/Cash)
(514 Points)
Replied 24 August 2011
As Mr.Rengarj is correct.
You can calculate duty for MRP that what you have mentioned in the particular product.
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