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of <h1>SC rules insurance costs not included in excise duty price. Transportation costs not considered.</h1> <h3>Commissioner of C. Ex., Mumbai-III Versus Hind Rectifiers Ltd.</h3> The SC dismissed the appeal, ruling that transportation and insurance costs should not be included in the price of goods for excise duty purposes when the ... Valuation - inclusion of cost of transportation and insurance policy - Held that:- the insurance policy for the transportation of the goods was taken by the assessee on behalf of the purchaser - the cost of transportation and insurance could not have been included for arriving at the price of the goods for the purpose of excise duty. The Supreme Court dismissed the appeal, stating that the cost of transportation and insurance should not have been included in the price of goods for excise duty purposes as the insurance policy was taken by the assessee on behalf of the purchaser.
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