A manufacturer based in Mumbai is willing to apply the MRP based valuation scheme in respect of the following excisable goods: Exports, Bulk sale/sale in wholesale pack, Package of less than 10 gram/10 ml, Sale to indust
CS Professional · Advanced Tax Laws and Practice · PYQS · June 2017
A manufacturer based in Mumbai is willing to apply the MRP based valuation scheme in respect of the following excisable goods: Exports, Bulk sale/sale in wholesale pack, Package of less than 10 gram/10 ml, Sale to industrial/institutional consumers. Advise the manufacturer under the excise law.
Answer & Explanation:
MRP based valuation scheme is not applicable to the manufacturer in respect of the following excisable goods: Exports Bulk sale/sale in wholesale pack. Package of less than 10 gram/10 ml. Sale to industrial / institutional consumers. Hence, transaction value method under Section 4 of the Act is to be applicable for all the four items.
Topics: Central Excise Act, 1944
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