CESTAT: Valuation of molasses based on actual costing or genuine sale price, not comparable goods price

The Appellate Tribunal CESTAT, Mumbai held that molasses valuation for captive consumption or sale should be based on actual costing or genuine sale price, not comparable goods price. Sales by tender without issues are deemed acceptable as contract prices under Section 4(1)(a) value. The Revenue's appeal was dismissed.

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The Appellate Tribunal CESTAT, Mumbai ruled that molasses valuation should be based on costing when captively consumed or sold by tender. The genuine sale price should be used, not comparable goods price. Sales by tender with no faults are acceptable as contract prices under Section 4(1)(a) value. The appeal by Revenue was dismissed.

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