MRP-based valuation applied to consumer cleaning and oral care products, determining assessable value after notified abatement. Section 4A is used to impose MRP-based valuation for toothpastes, tooth powders and detergents, setting assessable value as the retail sale price (MRP) less notified abatement and, where multiple MRPs are declared, the highest price applies. Small scale exemption eligibility and value limits must be computed under section 4A and its notifications for clearances from the commencement date. Unutilised modvat credit for manufacturers lapses as at the commencement date, except credits attributable to inputs and inputs contained in finished goods physically in stock on that date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
MRP-based valuation applied to consumer cleaning and oral care products, determining assessable value after notified abatement.
Section 4A is used to impose MRP-based valuation for toothpastes, tooth powders and detergents, setting assessable value as the retail sale price (MRP) less notified abatement and, where multiple MRPs are declared, the highest price applies. Small scale exemption eligibility and value limits must be computed under section 4A and its notifications for clearances from the commencement date. Unutilised modvat credit for manufacturers lapses as at the commencement date, except credits attributable to inputs and inputs contained in finished goods physically in stock on that date.
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