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of <h1>Central Board of Excise & Customs Circular Calls for Uniform Valuation Practices Pending Supreme Court Ruling on Central Excise.</h1> The circular issued by the Central Board of Excise & Customs addresses the lack of uniformity in valuation practices under the Central Excise framework. It emphasizes the need for consistent assessment practices pending a Supreme Court decision in a key case. The circular outlines guidelines for determining assessable value in various scenarios, such as captive consumption, job-work manufacturing, interest on delayed payments, and discounts. It specifies that notional profits should be added for captive consumption, and job-work valuation should consider raw material costs and job charges. Interest on delayed payments and certain discounts are included in the assessable value, while others are not. The circular aims to standardize valuation to ensure fair market practices.
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