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2013 (11) TMI 1147 - AT - Central ExcisePrinted Cartons and Packing Materials cleared for Captive consumption under Rule 8 of Valuation Rules – Waiver of Pre-deposit - Mode of Computation of value - Intermediate products manufactured and transferred – the applicant while computing the assessable value considered 100% of the cost of production of Badrachalam Unit and not invoice value, which was 115%/110% of cost of production - Rule 8 of the Valuation Rules, 2000 provides that value is to be determined on the 115%/110% of cost of production and, therefore, 15%/10% is notional margin - the issue is required to be considered on the basis of Rule 8 and in the light of provision of CAS-4, which will be looked into at the time of appeal hearing in detail - the applicant had already paid excess amount against the finalisation of three assessment orders – Prima facie, the applicant has made out a case in their favour - Pre-deposit of entire amount of duty along with interest and penalty waived till the disposal of the appeal – Stay granted. Debit notes part of Assessable value or not - Held that:- There is no sale involved in the transfer of goods to other division of ITC, the valuation would be under Rule 8 of the Valuation Rules, by adopting 115% of cost of production - the amount of Debit Notes would not be included while determining assessable value at Badrachalam Unit - Then, it is difficult to accept that the said amount of Debit Notes would be included in the assessable value of the applicant - Prima facie, there is no reason to include the amount of Debit Note in the assessable value at the hand of the applicant.
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