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of <h1>Circular Clarifies Notional Interest Inclusion in Excisable Goods Valuation; References Section 14A of Central Excise Act.</h1> The circular addresses the valuation of excisable goods concerning the inclusion of notional interest from security deposits or advances in the assessable value. It references Supreme Court and Madras High Court rulings, emphasizing that notional interest should be added to the assessable value only if the deposit confers a pecuniary advantage to the manufacturer. The Ministry of Law advises that if no direct benefit is shown, the interest should not be included. Assessing officers are instructed to determine any benefit derived using Section 14A of the Central Excise & Salt Act, 1944, with guidance from cost accountants. Previous circulars on the matter are withdrawn, and pending cases should be resolved promptly.
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