Valuation of cosmetics: retail-sale-price method made applicable to specified tariff categories for excise valuation. The Central Government, exercising powers under sub-section (1) of Section 4A of the Central Excise Act, specifies that goods under tariff headings 33.03, 33.04, 33.05 and 33.07 are subject to the subsection permitting valuation with reference to retail sale price, thereby making the retail-based valuation method applicable to excise assessment for these cosmetics.
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Provisions expressly mentioned in the judgment/order text.
Valuation of cosmetics: retail-sale-price method made applicable to specified tariff categories for excise valuation.
The Central Government, exercising powers under sub-section (1) of Section 4A of the Central Excise Act, specifies that goods under tariff headings 33.03, 33.04, 33.05 and 33.07 are subject to the subsection permitting valuation with reference to retail sale price, thereby making the retail-based valuation method applicable to excise assessment for these cosmetics.
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