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2014 (12) TMI 113 - AT - Central ExciseValuation of goods - Captive consumption - dispute is about how to determine the cost of production - valuation of the HDPE pipes cleared for captive consumption for use in the manufacture of parts of Sprinkler Irrigation System (HDPE Coupled pipes). - Held that:- The value of the goods for the purpose of assessment of duty and the cost of production are different. In this case, while the assessable value of the goods is cost of production plus manufacturer’s profit during period till 30-6-2000 and 115%/110% of the cost of production during period w.e.f. 1-7-2000, the cost of production is that which has to be determined in accordance with the principles of costing i.e. CAS-4 standard of ICWAI and for determining the cost of production, Apex Court’s judgment in case of UOI & Ors. etc. etc. v. Bombay Tyre International Ltd. etc. etc. (1983 (10) TMI 51 - SUPREME COURT OF INDIA) has no application. In view of this, the Commissioner’s order with regard to the issue of valuation is also incorrect and the matter has to be remanded for de novo adjudication - matter remanded back - Decided in favour of assessee.
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