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2018 (11) TMI 899 - AT - Central ExciseValuation - Inasmuch as the actual cost of the raw-material was not verified at the time of sending the goods by M/s.Asian Paints Ltd., such cost was being adopted on the basis of previous year’s balance sheet - Revenue was of the view that there was escalation of the raw-materials subsequently and such escalated cost should have been taken into consideration - Held that:- The appellant had already discharged the additional differential duty as also the fact that the duty paid by the assessee was being availed as credit by M/s.Asian Paints Ltd., thus leading to a revenue neutral situation. The legal issue also sands decided by the Hon’ble Supreme Court in favour of the assessee, in the case of CCE, Pune Vs. Mahindra Ugine Steel Ltd., [2015 (4) TMI 351 - SUPREME COURT], where it was held that the provisions of Rule 8 of Central Excise Valuation (Determination of Prices of Excisable Goods) Rules, 2000, is not applicable to the valuation required to be done in respect of the goods manufactured under job works. Appeal allowed - decided in favor of appellant.
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