Excise valuation after price-list approval was dispensed with: actual sale price governed assessable value and predeposit was waived.

After price-list approval was dispensed with from 1 April 1994, the actual sale price reflected in invoices and gate passes became relevant for valuation under Section 4 of the Central Excise Act, 1944, rather than the earlier approved price. On that basis, the appellant was found to have established a prima facie case for complete waiver of predeposit and stay of recovery. The predeposit of duty was accordingly waived and recovery stayed pending appeal.

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Issues: Whether the appellant made out a prima facie case for waiver of predeposit of duty and stay of recovery in view of the valuation of PSC sleepers sold after 1.4.1994.

Analysis: The price list approval had been dispensed with from 1.4.1994 and the clearance documents such as invoices and gate passes were relevant for determination of assessable value. Since the goods were sold after that date at prices lower than the earlier approved price, the actual sale price after the amendment to Rule 173C of the Central Excise Rules, 1944 was relevant for valuation under Section 4 of the Central Excise Act, 1944. On that basis, the appellant established a prima facie case for total waiver.

Conclusion: The predeposit of duty was waived and recovery stayed during the pendency of the appeal.

Ratio Decidendi: After the dispensation of price-list approval from 1.4.1994, the actual sale price shown in clearance documents became relevant for assessing excisable value under Section 4.

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