Transaction value principle governs assessable value when sale, unrelated buyer, and price-as-sole-consideration conditions are met. Excise assessable value is the transaction price on each removal when three conditions are met: sale at the time and place of removal, buyer and assessee not related, and price as the sole consideration. If any condition fails, valuation follows the Valuation Rules: use comparable proximate sales or cost-based methods for timing/place discrepancies; exclude transport to delivery but include transport to place of removal; apply normal transaction value or cost-plus for related-party transfers or captive consumption; add back additional consideration and include integral bought-out items while excluding optional consumables and depot-incurred costs.
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.
Transaction value principle governs assessable value when sale, unrelated buyer, and price-as-sole-consideration conditions are met.
Excise assessable value is the transaction price on each removal when three conditions are met: sale at the time and place of removal, buyer and assessee not related, and price as the sole consideration. If any condition fails, valuation follows the Valuation Rules: use comparable proximate sales or cost-based methods for timing/place discrepancies; exclude transport to delivery but include transport to place of removal; apply normal transaction value or cost-plus for related-party transfers or captive consumption; add back additional consideration and include integral bought-out items while excluding optional consumables and depot-incurred costs.
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