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of <h1>Circular Details Section 4 of Central Excise Act: Guidelines on Transaction Value for Excisable Goods from July 1, 2000.</h1> The circular outlines the implementation of Section 4 of the Central Excise Act, effective from July 1, 2000, concerning the determination of transaction value for excisable goods. It specifies that transaction value is applicable when goods are sold by an assessee to an unrelated buyer at the place of removal, with the price being the sole consideration. The circular clarifies that additional charges related to manufacturing, marketing, and selling, such as packaging and warranty, are included in the transaction value. It discusses the treatment of discounts, interest on delayed payments, and taxes in the valuation process. The document also addresses the valuation of goods sold through related parties and the specific application to petroleum products. The circular emphasizes careful monitoring and reporting by commissioners to ensure smooth implementation.
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