Valuation of Goods Sold by EOUs in Domestic Tariff Area Governed by Section 3 of Central Excise Act 1944.

The valuation of goods sold in the Domestic Tariff Area (DTA) by Export Oriented Units (EOUs) is governed by Section 3 of the Central Excise Act, 1944. This section mandates that the valuation of excisable goods manufactured in EOUs and cleared into the DTA should follow Customs law provisions. When the invoice price represents the transaction value, it can be accepted as the valuation. For goods not covered under the fourth schedule of the Central Excise Act, 1944, valuation should adhere to the applicable Goods and Services Tax (GST) Act.