Valuation of excisable goods determines whether specific, tariff, transaction, or MRP methods govern excise duty computation. Valuation of excisable goods establishes the taxable base for excise duty by either specific (quantity-based) measures or value-based methods: tariff value fixed by notification, transaction (assessable) value where statutory conditions are met, and retail sale price (MRP) valuation after allowable deductions. Packaging tolerances are recognised through maximum permissible error. A notified Compound Levy Scheme permits payment on specified factors at fixed rates for designated goods and may exclude such goods from SSI exemption.