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2013 (10) TMI 991 - AT - Central ExciseValuation - Undervaluation of vehicles - Rule 8 of valuation rules - Manufacture of chassis and sale of complete motor vehicle – Waiver of Pre-deposit – Held that:- Following - The questions framed in the order of reference are accordingly answered in favour of the Revenue and against the assessee appeal. Following Eicher Motors Vs. CCE, Indore [2008 (6) TMI 19 - CESTAT NEW DELHI] - We are not able to appreciate as to how having taken credit of the duty paid on chassis on the basis of 110% of the cost of production/manufacture, would not include the additional 10% of cost in the assessable value of the vehicle, particularly when in respect of other goods procured directly by them on the account of Eicher, used as raw material, their transaction value is taken into account and credit is taken of the duty paid on those goods. The value of chassis for the purpose of arriving at the assessable value of the complete motor vehicle shall be the assessable value of the chassis worked out by Eicher under Rule 8 of the Excise Valuation Rules, and not its actual cost - the applicant has not been able to make out a case for full waiver of pre-deposit. the applicant No. (1) directed to make deposit of 25% of duty – upon such submission balance dues would stand waived and its recovery stayed during the pendency of the appeal – Partial stay granted.
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