valuation of depot transfer

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Dear experts if an assessee transfers excisable goods to its newly opened depot then how valuation shall be made.

AI Summary

Understanding Valuation of Excisable Goods: Rule 7 of Central Excise Valuation Rules Explained with Timing Importance An individual inquired about the valuation method for excisable goods transferred to a newly opened depot under Indian laws. An expert referred to Rule 7 of the Central Excise Valuation Rules, stating that the value should be the normal transaction value at the depot at or near the time of removal. Another expert explained the principle of the nearest point of time for valuation, referencing a legal case where the tribunal allowed the valuation based on the nearest subsequent sale when no prior transaction value was available. The discussion emphasized the importance of timing in determining the correct transaction value.