Section 4A valuation applies to notified watches; packaged-commodity objection fails under the excise statutory scheme.

Watches covered by the relevant notifications were assessable under Section 4A of the Central Excise Act, 1944 because they were goods specified by notification and required a retail sale price declaration on the package under the applicable legal scheme. Once so notified, valuation had to be based on retail sale price, not Section 4. The argument that the goods were outside the concept of packaged commodities was rejected, as the statutory framework and the settled meaning of "commodity in packaged form" supported Section 4A valuation. The result was that assessment under Section 4 failed.

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Issues: Whether watches notified under the relevant notifications were liable to be valued under Section 4A of the Central Excise Act, 1944 instead of Section 4, and whether the plea that the goods were not commodities in packaged form could defeat such valuation.

Analysis: Section 4A applies where goods are specified by notification and are required under the standards and weights legislation or any other law to declare the retail sale price on the package. The watches in question were covered by the notifications issued for the relevant period, and the notifications were subsequently superseded by later notifications which continued to include watches. Once the goods stood notified under Section 4A, assessment could only be made on the basis of retail sale price. The contention that the goods were outside the concept of packaged commodities was rejected in light of the statutory scheme and the settled interpretation of the expression "commodity in packaged form". The decision of the Supreme Court on the meaning of that expression also supported the department's case.

Conclusion: The watches were correctly assessable under Section 4A of the Central Excise Act, 1944, and the plea for assessment under Section 4 failed.

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