Valuation of goods
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 July 2014
MR.x manufacture an excise goods for many distributors. he got an additional oder from Y.ltd company to manufacture same kind of goods under Y's comapnay brand name and packing would be done by mr.x n transfer goods to the company at rs. 50/-. Mrp on box is rs.100/- excise would be paid my Mr.X on what amt?? will retail sale price based valuation come into picture???
Arun Kumar Singh
(Expert)
03 July 2014
If goods are covered under MRP provision then duty will be payable on Maximum retail price after abatement. If any alteration alteration after the clearance of goods then duty will be payable after the alteration of goods. If X are manufacturing the goods of other brand name then SSI exemption will not be available for X. Excise duty will be applicable from first day of manufacturing of goods.
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