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<h1>Revised excisable biscuits assessment based on ex-factory price for assessable value calculation</h1> The Government of India revised the assessment of excisable biscuits, determining that the ex-factory wholesale cash price charged to wholesale buyers ... Valuation - When sales are partly made to wholesale buyers at arms length The Government of India considered a revision application regarding the assessment of excisable biscuits. The petitioners argued that sales to distributors were at arms length and distributor prices did not represent assessable value. Referring to a Supreme Court judgment, the Government held that ex-factory wholesale cash price charged to wholesale buyers other than distributors should determine assessable value. The order-in-appeal was set aside and the revision application was allowed.