MRP based excise duty calculation

[KRISHNA BHATI]

Dear sir,

how we can calculate the MRP based excise duty .

AI Summary

Excise Duty Calculations Explained: MRP-Based Products Get Abatement, Duty Charged on Net Assessable Value Post-Abatement A query was raised regarding the calculation of excise duty based on the Maximum Retail Price (MRP). The response explained that products under MRP receive an abatement, and taxes are calculated on the net assessable value after abatement. For example, if a product has an MRP of Rs. 100, with an abatement of Rs. 33, the net assessable value becomes Rs. 67, and excise duty is calculated on this amount.