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Former Member

MRP CIN

Hi,

What is Maximum Retail Price in CIN?

What it significance of MRP indicator?

Regards

Kedar Kulkarni

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Kedar Kulkarni

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    author's profile photo Former Member
    Former Member
    Posted on Dec 05, 2007 at 11:12 AM

    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

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 05, 2007 at 11:04 AM

    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

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