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Excise abatement on auto parts
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Toothbrush, plant growth regulators included in list
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NEW DELHI:
The Central Government has notified components and assemblies for automobiles, plant growth regulators and tooth brush for MRP based levy of excise duty. The level of abatement from the retail sale price (MRP) in respect of these goods is: Parts, components and assemblies of automobiles (any heading) — 33.5 per cent; plant growth regulators (3808 30 40) — 30 per cent and toothbrush (9603 21 00) — 28.5 per cent.
The MRP based levy on the above goods will be effective from June 1.
Sec. 4A of the Central Excise Act, 1944, provides for levy of Central Excise duty on the basis of declared retail price on goods, which are notified under the said section by the Central Government.
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