Sowmya.S.Balan (Paid Assistant) (749 Points)
20 February 2012Dear friends
We are from kerala and we are purchasing goods from Tamil NAdu.our goods are detained in the chequepost because our invoice value is less than 65% of MRP value . Is there any such rules that contains Invoice value must be such % of MRP . Please quote the section or rules also. Please help me its very urgent
vivekanandhan
(DCTO)
(39 Points)
Replied 20 February 2012
In which checkpost ur goods were detained.Tell me the state.
vivekanandhan
(DCTO)
(39 Points)
Replied 20 February 2012
I can tell u about Tamilnadu only.Its kerala checkpost.Sorry madam
Anoop
(Service)
(345 Points)
Replied 20 February 2012
There is no rule that Invoice value should be in % of MRP
kanagaraj
(CHARTERED ACCOUNTANT)
(793 Points)
Replied 20 February 2012
In Walayar check posts many goods are detained for petty reasons. The Check post authorities are not empowered to check the price of the goods. Since they are not the Assessing officer they are not supposed to check these things. Even the Kerala High Court delivered a judgement in a case and warned the authorities not to detain the goods for the price.
yuvraj kalambe
(accounts)
(92 Points)
Replied 21 February 2012
Yes Mr Anoop is correct there is no such rules , MRP price and sales price is different u can bill less than MRP price only excise duty to be paid as per abatment rates.
ACMA Obulirajan R
(M.Com, ACMA)
(1119 Points)
Replied 21 February 2012
There is no such rule at all....
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