Central Excise - Assessable value - Determination of - When additional consideration is received by the manufacturers - Case of M/s. I.T.C. Ltd. - vis-a-vis - D.G.I.'s order, dated 10-4-1986 - Regarding
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Assessable value principle: additional monetary consideration must be added to declared assessable value, prompting adjusted demands. Where price is not the sole consideration for sale of excisable goods, the money value of additional consideration received from buyers must be added to the assessable value already declared or approved; this follows the Law Ministry's advice and is to be followed pending the Attorney General's opinion, with show cause notices and demands to be issued accordingly.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Assessable value principle: additional monetary consideration must be added to declared assessable value, prompting adjusted demands.
Where price is not the sole consideration for sale of excisable goods, the money value of additional consideration received from buyers must be added to the assessable value already declared or approved; this follows the Law Ministry's advice and is to be followed pending the Attorney General's opinion, with show cause notices and demands to be issued accordingly.
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