Clarification on Input Value Redetermination u/r 57F(1)(ii) for Duty Assessment in Non-Sale Transfers.

The circular addresses the redetermination of the 'value' of inputs under Rule 57F (1) (ii) of the Central Excise Rules. It clarifies that if inputs are cleared at the same price at which they were received, the value for duty assessment remains as initially assessed. This applies even in cases of non-sale transfers. A different value for duty assessment is only necessary if the inputs are sold at a price different from the purchase price. The instructions should be communicated to relevant field formations and trade interests, with acknowledgment of receipt required.

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