https://www.taxtmi.com/caselaws?id=97464 In job-work valuation under the Central Excise valuation rules, duty paid on inputs on which Modvat credit was taken was not includible in the assessable value, because the input duty was not recovered again from the customer as part of the sale price. The Tribunal treated earlier Supreme Court authorities as distinguishable and followed its own later view on the same valuation issue. On limitation, the extended period could not be invoked because the price lists disclosed the net-of-CVD valuation basis, and the undisclosed credit-note arrangement did not amount to suppression. The valuation demand and connected penalty therefore did not survive. en-us Wed, 01 Sep 1999 00:00:00 +0530 Mon, 16 Jan 2012 17:50:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97464 In job-work valuation under the Central Excise valuation rules, duty paid on inputs on which Modvat credit was taken was not includible in the assessable value, because the input duty was not recovered again from the customer as part of the sale price. The Tribunal treated earlier Supreme Court authorities as distinguishable and followed its own later view on the same valuation issue. On limitation, the extended period could not be invoked because the price lists disclosed the net-of-CVD valuation basis, and the undisclosed credit-note arrangement did not amount to suppression. The valuation demand and connected penalty therefore did not survive. Case-Laws Central Excise Wed, 01 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97464