Sunday, December 13, 2015

No need to affix MRP on goods declared to be 'not for retail sale'; excise duty payable on transaction value

The Supreme Court of India held that where assessee had declared on goods that they were not meant for retail sale and revenue could not produce any evidence to contrary, there was no requirement to affix MRP thereon and goods were to be valued based on transaction value under section 4.

Commissioner of Central Excise, Noida v. Control & Switchgears Contactors Ltd [2015] 63 82


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