Footwear Sales to Institutions: MRP-Based Valuation Required u/s 4A, Not Transaction Value, Due to Rule 34 Non-Exemption.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Transaction value u/s 4 or MRP based Valuation u/s 4A - sale of footwear to institutional buyers in bulk - the footwear is an item which is specified under Section 4A, which is covered by Weights and Measures Act and Rules, and MRP was affixed on the products supplied, which were not exempted under Rule 34 of the Rules, the provision of Section 4A of the Act shall stand attracted. - SC....