Central Excise Valuation (Determination of Price of Excisable Goods) Amendment Rules, 2014 - 20/2014 - Central Excise - Non Tariff

India Amends Excise Valuation Rules: New Proviso to Rule 6 Clarifies Valuation of Goods Sold Below Cost

The Central Government of India has amended the Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000, effective from the date of publication in the Official Gazette. The amendment introduces a proviso to Rule 6, stating that if the price is not the sole consideration for the sale of excisable goods and they are sold below manufacturing cost and profit, without any additional consideration from the buyer to the seller, the transaction value will be deemed as the value of such goods. This change aims to clarify the valuation process for excisable goods under specific conditions.