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MRP

This query is : Resolved 
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(Querist)
20 June 2009 'M'Auto spring manufacturer bought an sub-component Rubber pad for assembling in to the Spring.
Also the bought out rubber pads as is condition (no packing involved)are sold to another 'N'auto company which is a manufacturing a car motor and also a spare parts selling company.N company sells rubber pad to his excluive spare Parts dealer.

Whether MRP(Maximum Retail Price) rate will be applicable to 'M' Company.

Please clarify.

Regards
V.Ganapathysubramanian
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Rajesh Kumar

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Rajesh Kumar (Expert)
30 June 2009 MRP rate is not applicable. In this case Excise duty is to be paid under Cenvat Credit Rules, equivalent to the credit taken.
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