Normal transaction value governs valuation when goods transferred to depot or consignment premises are sold later. Where excisable goods are transferred to a depot, consignment agent premises or other place for later sale and the assessee and buyer are unrelated and price is the sole consideration, the value shall be the normal transaction value of such goods sold from that other place at or about the same time, or if not sold then, at the time nearest to the time of removal for assessment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Normal transaction value governs valuation when goods transferred to depot or consignment premises are sold later.
Where excisable goods are transferred to a depot, consignment agent premises or other place for later sale and the assessee and buyer are unrelated and price is the sole consideration, the value shall be the normal transaction value of such goods sold from that other place at or about the same time, or if not sold then, at the time nearest to the time of removal for assessment.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.