Rajesh Kumar (Excise Executive) (22 Points)
05 January 2017Dear Sir,
Can we pay excise duty on sale price and issue material with sticker;s of MRP. is it possible. if not then please provide related notification
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 06 January 2017
Excise duty is payable normally as per transaction value.
For some goods mainly in the FMCG / white goods segment the MRP based valuation is applicable where duty needs tobe paid based on MRP less abatement. The list of such items along with the abatement which can be claime dis set out in ot49/2008 as amended. If you have the Central Excise Tariif you can find this not.
If your good fall in this cathoery then you cannot pay on transaction bvaleu but on MRP less abatement.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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