https://www.taxtmi.com/caselaws?id=86407 In excise valuation, the effect of Modvat credit on assessable value turns on whether the availability of the credit actually reduced the price charged to buyers; if the price was in fact reduced, that reduced price forms the basis for valuation under Section 4 of the Central Excise Act, 1944. The relevant enquiry is not confined to contractual terms about passing on the Modvat benefit or later buyer demands. Because the lower authorities had not examined that factual issue from the correct perspective, the matter was remanded for fresh consideration by the adjudicating authority after granting the appellant a personal hearing. en-us Tue, 11 Feb 1997 00:00:00 +0530 Wed, 24 Aug 2011 16:14:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86407 In excise valuation, the effect of Modvat credit on assessable value turns on whether the availability of the credit actually reduced the price charged to buyers; if the price was in fact reduced, that reduced price forms the basis for valuation under Section 4 of the Central Excise Act, 1944. The relevant enquiry is not confined to contractual terms about passing on the Modvat benefit or later buyer demands. Because the lower authorities had not examined that factual issue from the correct perspective, the matter was remanded for fresh consideration by the adjudicating authority after granting the appellant a personal hearing. Case-Laws Central Excise Tue, 11 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86407