Assesable Value for Duty purpos.

[HIMANSHU JARIWALA]

Sir,

We are manufacturing Monofillament yarn which is excisable. Erlier we sell goods without adding value of cops. because cops are returnable. Now we decided to sale monofilament yarn with cops.

So, can we issue seperate commercial invoice for cops without excise and excise invoice for monofilament yarn.

Please advice on the issue. or any other option to save excise duty.

AI Summary

Assessable value must include packaging amortisation; separate invoicing or disclosure required and CENVAT credit reversal applies.
Where returnable packaging forms part of the transaction, the amortised value of that packaging must be included in the assessable value of excisable monofilament yarn. If packaging is manufactured and removed separately, duty must be discharged by separate invoicing or explicit invoiced disclosure; bought-out packaging on which CENVAT credit was availed requires reversal of the equivalent CENVAT credit on removal as such.