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1997 (11) TMI 103 - SC - Central ExciseWhether the excess amount of duty, that is to say, duty in excess of 50% effective rate of duty, recovered in the shape of duty from the buyers, should not be considered as a part of the value of the goods for the purposes of excise? Held that:- In the light of the explanation, what the appellants are entitled to exclude from the value of excisable goods is the effective duty of excise payable by them on these goods after taking into account the exemption Notification. They can, therefore, exclude only 50% of the duty which they have paid, being the effective duty of excise, from the value of the excisable goods. The balance amount if they have charged it from the customers, will form a part of the value of the goods for the purpose of calculation of excise duty. This explanation has been inserted by Finance Act, 1982 (14 of 1982) with retrospective effect from 1-10-1975 and it applied to the present case.
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