Mrp valuation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 August 2012 We manufacture electrical items falling under chapter 85365010 (weighs less than 25 kgs) which are meant for industrial use only. The goods are packed in cardboard boxes, which bear the endorsement “Packed for the exclusive use in any industry as a raw material or for the purpose of servicing any industry, mine or quarry.” We also do not affix any Maximum Retail Price on the said boxes. We are not following sec 4A valuation. The products are sold directly to dealers and also to some industries. Do we need to pay differential duty taking MRp value into consideration. What difference makes the declaration on packages, between standard of weight and measurement rules, 1977 and Legal Metrology rules, 2011.

RENGARAJ R.K

RENGARAJ R.K (Expert)
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17 August 2012 All goods other than goods falling under tariff item 85367000 are coming under section 4A. Therefore you are supposed to pay duty on MRP minus abatement 35%. Find out the rate adopted by you and MRP and pay the difference ED to the department to avoid penal provisions. The other enactments is different for paying the difference.

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