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2018 (11) TMI 729 - AT - Central ExciseMethod of Valuation - stock transfer from one unit to another - revenue neutrality - Held that:- Since such transfer does not involve sale, the valuation is required to be adopted in terms of Rule 8 of the Central Excise Valuation Rules, 2000. This Rule prescribes that the valuation is to be determined at the rate of 115%/110% (as prevalent at the relevant time) of the value of the goods arrived at as per CAS-4 Standard. Such Standard have been prescribed by the Institute of Cost & Works Accountants of India (ICWAI). The valuation adopted for such stock transfer by the appellants is admittedly is not meeting such Standards - Neither the value adopted by the appellants for payment of duty nor the value finally adopted by the Revenue, is as per CAS-4 Certificate. The valuation adopted by the Department has not been certified by the Cost Accountants. Revenue Neutrality - Held that:- It is not in dispute that any differential duty paid by Durgapur Unit will be available as cenvat credit in the Burdwan Unit. This leads to revenue neutral situation. The demand for differential duty, arrived at by questionable means, does not merit to be sustained - demand with penalty do not sustain - appeal allowed in part.
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