Valuation for captive consumption duty payment

[shamanthaka mani]

Rule 8 of Central Exicse Valuation Rules 2000 has been amended vide Notificaiton No. 6/2003 CE (NT) dt.5.8.2003, wherein the words 'one hundred and fifteen percent' has been substituted by the words 'one hundred and ten percent'.   What could be the reason behind this amendment by substitution.  Will it be retrospective, atleast upto 1.4.2003.

[YAGAY andSUN]

Normally, the profit is considered @ 10%. Hence, the 110%. it is not retrospective amendment.

AI Summary

Valuation for captive consumption adjusted to reflect standard profit margin; amendment designated not retrospective. Amendment lowered the valuation multiplier for captive consumption to align excise valuation with the ordinary profit margin (taken at ten percent), and the change is not applied retrospectively.