TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Tribunal Rules: Pesticide Assessable Value Based on Greatest Aggregate Transaction, Future Prices Irrelevant.</h1> <h3>EI. DU PONT INDIA PVT. LTD. Versus COMMISSIONER OF CENTRAL EXCISE, CHENNAI</h3> EI. DU PONT INDIA PVT. LTD. Versus COMMISSIONER OF CENTRAL EXCISE, CHENNAI - 2005 (181) E.L.T. 27 (Tri. - Del.) Issues involved: Determination of assessable value of pesticides manufactured by M/s. E.I. Du Pont India Pvt. Ltd.Summary:In the appeal filed by M/s. E.I. Du Pont India Pvt. Ltd., the issue pertains to the determination of the assessable value of pesticides manufactured by them. The Appellant contended that the assessable value of the goods has been wrongly determined based on sale prices prevailing on dates subsequent to the date of removal of goods from the factory under Rule 7 of the Central Excise Valuation Rules, 2000. The Appellant argued that they have paid duty based on the normal transaction value and the greatest quantity sold by the consignment agent, in accordance with Board Circulars. On the other hand, the Revenue argued that the transaction value can be determined based on future prices if goods are not sold at or about the same time as the removal. The Tribunal considered the submissions of both sides and referred to Section 4 of the Central Excise Act, which mandates that the assessable value shall be determined under the Central Excise Valuation Rules if goods are not sold at the time and place of removal. Rule 7 of the Valuation Rules states that the assessable value shall be the normal transaction value of goods sold from another place at or about the same time or at the time nearest to the removal of goods under assessment. The normal transaction value is defined as the transaction value at which the greatest aggregate quantity of goods are sold. The Tribunal noted that the Appellants had paid duty based on the price at which the greatest aggregate quantity of goods are sold, as per the normal transaction value. The Tribunal emphasized that once the normal transaction value is ascertainable, there is no need to determine the assessable value based on prices subsequent to the removal of goods. The Tribunal referred to a Board Circular clarifying that the time period for computing the greatest aggregate quantity should be taken as the whole day, and the transaction value would refer to the price at which the largest quantity of identical goods are sold on a particular day. Therefore, the Tribunal set aside the impugned order and allowed the appeal filed by M/s. E.I. Du Pont India Pvt. Ltd.
TaxTMI 
TaxTMI 
