https://www.taxtmi.com/caselaws?id=72921 A retrospective amendment by the Finance Act, 1982 altered the excise valuation scheme so that the duty deductible from the cum-duty price under Section 4(4)(d)(ii) had to be the effective duty actually payable after full effect was given to the Rule 8 exemption notification. The earlier two-stage approach, under which assessable value was first determined on the tariff rate and the exemption applied later, was displaced because the validating amendment integrated the exemption into the computation itself. As a result, the assessable value had to be worked out on the basis of the effective duty after taking the notification into account, and prior contrary decisions under the earlier statutory scheme no longer governed. en-us Thu, 01 May 1986 00:00:00 +0530 Wed, 25 May 2011 18:22:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=72921 A retrospective amendment by the Finance Act, 1982 altered the excise valuation scheme so that the duty deductible from the cum-duty price under Section 4(4)(d)(ii) had to be the effective duty actually payable after full effect was given to the Rule 8 exemption notification. The earlier two-stage approach, under which assessable value was first determined on the tariff rate and the exemption applied later, was displaced because the validating amendment integrated the exemption into the computation itself. As a result, the assessable value had to be worked out on the basis of the effective duty after taking the notification into account, and prior contrary decisions under the earlier statutory scheme no longer governed. Case-Laws Central Excise Thu, 01 May 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=72921