https://www.taxtmi.com/circulars?id=317 Interpretation of place of removal governs which location's price forms assessable value: where goods insured in the seller's name remain the seller's property in transit, property passes at buyer's premises and that location may be the place of removal for valuation. Equalised transit insurance charges collected in excess of actual outlay are not automatically includable in assessable value. The statutory penalty equal to determined duty is a maximum; authorities may impose a lesser penalty after considering circumstances. en-us Wed, 24 May 2000 00:00:00 +0530 Tue, 23 Sep 2008 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=317 Interpretation of place of removal governs which location's price forms assessable value: where goods insured in the seller's name remain the seller's property in transit, property passes at buyer's premises and that location may be the place of removal for valuation. Equalised transit insurance charges collected in excess of actual outlay are not automatically includable in assessable value. The statutory penalty equal to determined duty is a maximum; authorities may impose a lesser penalty after considering circumstances. Circulars Central Excise Wed, 24 May 2000 00:00:00 +0530 https://www.taxtmi.com/circulars?id=317