MRP valuation
This query is : Resolved
24 July 2009
asking through example.
suppose MRP value 21500 less abatment 38% hence assable value RS 13020/ excise @14% i.e.1822.80 is taken correctly but due to system problem assable value is shown in invoice is 12800 add duty amount as above i.e. 1822.80 =14622.32 is recovered frm customer is as above..
is it proper treatment...? since duty amount is correct as per MRP rules but invoice price recovered from party is different .
suppose MRP value 21500 less abatment 38% hence assable value RS 13020/ excise @14% i.e.1822.80 is taken correctly but due to system problem assable value is shown in invoice is 12800 add duty amount as above i.e. 1822.80 =14622.32 is recovered frm customer is as above..
is it proper treatment...? since duty amount is correct as per MRP rules but invoice price recovered from party is different .
24 July 2009
Should notbe a problem. Audit party may enquire.
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24 July 2009
in above case maximum cases are same..n concerned party is a related party...& actual sales value is some time lower & some time higher..is there any noncomplience of statute..?
in above case maximum cases are same..n concerned party is a related party...& actual sales value is some time lower & some time higher..is there any noncomplience of statute..?
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