Valuation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2012 I am presently undertaking a audit wherein abatement for the purposes of excise duty is 35% on MRP.Thus excise duty is to be calculated @ 65% of MRP.
But i noticed that it is being calculated @ 65 % of MRP or INVOICE PRICE before trade dicount which ever is higher.
iam informed that the goods are chargeable to excise duty as per MRP basis of VALUATION.
Is this treatment correct??

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2012 Please give a reply sir

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