https://www.taxtmi.com/caselaws?id=89480 In job-work manufacturing for a loan licensee, assessable value must be determined by reference to the cost of manufacture incurred by the job worker, not the resale price at which the loan licensee sells the goods. The Tribunal noted that the lower authorities had not properly examined Rule 6(b)(ii) of the Valuation Rules, 1975, and applied the settled Supreme Court principle that valuation should reflect the value attributable to the job worker's manufacture. The operative effect is that resale margins or sale prices charged by the loan licensee are not the correct basis for assessable value in such cases. en-us Fri, 27 Nov 1998 00:00:00 +0530 Tue, 27 Sep 2011 13:07:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89480 In job-work manufacturing for a loan licensee, assessable value must be determined by reference to the cost of manufacture incurred by the job worker, not the resale price at which the loan licensee sells the goods. The Tribunal noted that the lower authorities had not properly examined Rule 6(b)(ii) of the Valuation Rules, 1975, and applied the settled Supreme Court principle that valuation should reflect the value attributable to the job worker's manufacture. The operative effect is that resale margins or sale prices charged by the loan licensee are not the correct basis for assessable value in such cases. Case-Laws Central Excise Fri, 27 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89480