Valuation of excisable goods: valuation rules govern how taxable value is determined for excise purposes. Rule 3 of the Central Excise Valuation Rules, 2000 provides that the value of any excisable goods shall, for the purposes of clause (b) of sub section (1) of Section 4 of the Act, be determined in accordance with those Rules, thereby prescribing the valuation methodology applicable to excisable goods for central excise assessment.