MRP

Valuation of composite goods under VAT laws

By Aayush Singla

In the case of State of Punjab v. Nokia India Pvt Ltd (2014-VIL-23-SC), the Supreme Court held that battery charger of a cell phone is not a composite part of the cell phone but only an accessory and is an independent product. Hence, battery chargers sold along with cell phones were held to be assessable ...

Industrial/ Institutional Consumers – the argument continues

By Shweta Kathuria

The Department of Consumer Affairs (Legal Metrology Division) by notification dated 14-5-2015 amended the Legal Metrology (Packaged Commodities) Rules, 2011 (“PC Rules”). The PC Rules were framed to safeguard the interest of consumers by ensuring that the dealers cannot take undue advantage of innoc...

Industrial/ Institutional Consumers – Complicating the uncomplicated

By Sagar Singhal & Shweta Kathuria The great Chinese philosopher Kong Qiu, famously known as Confucius, once said - “Life is really simple, but we insist on making it complicated”. This has exactly happened after the recent amendment made in the Legal Metrology (Packaged Commodities) Rules, 2011 (“PC Rules”) regarding packages supplied to “industrial consumers” and “institu...

Pre-packed commodity - The controversy continues

By Divya Jain “Metrology is the science of measurement, embracing both experimental and theoretical determinations at any level of uncertainty in any field of science and technology.” [International Bureau of Weights and Measures (BIPM)]. The Legal Metrology Act, 2009, enacted in April, 2011, repeals the over three-decades-old cumbersome Standards of Weights & Measures Act, 1976. There a...

Tax Amicus: November 2012

Applicability of Sales tax on an agreement to sell under-construction flat, in the light of the recent Bombay High Court decision, is the topic of discussion this month. CESTAT has held that export goods conforming to DGFT criteria are not liable for confiscation and that refund of central excise duty is available in case MRP is reduced at the depot. This issue of "Tax Amicus" also covers Order...

Tax Amicus: June 2012

Tax liability in respect of hire-purchase transactions under various State laws is discussed at length in this issue. The article argues that there is double taxation on processing fees/documentation charges and that standardization of practices and uniformity is the need of the hour. In Central Excise, abatement quantum has been revised for several electronic items for the purpose of MRP based...

Tax Amicus: May 2012

This issue of "Tax Amicus" carries article pointing to certain anomalies in MRP based valuation/assessment of cosmetics less than 10g or 10ml. "Ratio decidendi" covers CESTAT orders holding Special CVD refund as admissible on goods imported and transferred on right to use basis and that Cenvat credit as available based on provisionally assessed Bill of Entry and on the services used in wind mil...