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of <h1>Interest-Free Deposits Must Be Included in Assessable Value u/s 4 of Central Excise Act.</h1> The circular addresses the determination of assessable value under Section 4 of the Central Excise Act, 1944, specifically regarding interest-free deposits. It clarifies that if the price is not the sole consideration for the sale of excisable goods, any additional consideration, such as notional interest on interest-free deposits, must be included in the assessable value. The circular references legal precedents, including the VST Industries case, which established that such additional considerations should be added to the cum-duty price to determine the assessable value. The circular affirms that the opinion of a former Attorney General on this matter remains valid.
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