MRP CIN

[Former Member]

Hi,

What is Maximum Retail Price in CIN?

What it significance of MRP indicator?

Regards

Kedar Kulkarni

Message was edited by:

Kedar Kulkarni

[Former Member · Accepted solution]

MRP indicator

ITs in the case of dalear case

say

base vale is 1000 its including 160 rs of excise

but at the creating of po we dont know what will be excise value only we know is 1000 rs for material

so at the time of gr when we do this mrp indicator tick and change the value (1000-160) 940 in base value in excise tabe

accounting generaated will be

matrial cost 940+

gr ir 940-

if u dont tic this mrp indicator then account entries will be

matrial cose 1000+

grir 1000-

so till the time u dont do miro ur materrial valuation will be wrong

so to keep corectness of valuation the MRP indicator helps

hope its clear

Reward if usefull

[Former Member · Accepted solution]

Dear Umakant,

Thanks for your valuable input

Message was edited by:

Kedar Kulkarni

[Former Member]

der kedar,

MRP indicator is ticked at the time of doing GR of excisable ietems.

Suppose you are procuring some goods from a dealer and he is supplying the goods with inclusive of excise.at the time of GR you dont know the excact amount of excise at this time you tick the MRP indicator.

After receiving the Excise invoice you post it in J1IEX in appropriate accounts.

Hope solved your querry

Njoy

Ashish

**reward if useful

[Former Member]

Dear Ashish,

Thanks

Kedar