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<h1>Finance Ministry Clarifies MRP-Based Assessments for Automobile Parts Under Entry No. 97, Notification No. 2/2006-CE (N.T.</h1> The circular from the Ministry of Finance, Department of Revenue, clarifies the scope of entry No. 97 of Notification No. 2/2006-CE (N.T.), concerning MRP-based assessments for automobile parts, components, and assemblies. It defines 'automobiles' as motor vehicles like cars, buses, and motorcycles, excluding animal or manual-driven vehicles. The circular also clarifies that 'parts, components, and assemblies' cover all such items, regardless of their classification in the tariff, including batteries, brake assemblies, tyres, and more. This clarification aims to guide trade and industry in interpreting the relevant notification.