https://www.taxtmi.com/circulars?id=6792 Assessable value for job-processed fabrics is the price at the factory gate or deemed factory gate; it is not simply the sum of the processor's grey-cloth cost and job charges. Manufacturing profit and manufacturing expenses must be added, while trader's profit must be excluded. Determination must follow the Supreme Court's principles together with applicable statutory valuation rules, using trader/processor information as relevant. The Board will not seek further Court clarification and has requested an immediate revenue impact assessment to consider possible retrospective legislative measures. en-us Wed, 17 May 1989 00:00:00 +0530 Wed, 08 Jul 2009 13:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=6792 Assessable value for job-processed fabrics is the price at the factory gate or deemed factory gate; it is not simply the sum of the processor's grey-cloth cost and job charges. Manufacturing profit and manufacturing expenses must be added, while trader's profit must be excluded. Determination must follow the Supreme Court's principles together with applicable statutory valuation rules, using trader/processor information as relevant. The Board will not seek further Court clarification and has requested an immediate revenue impact assessment to consider possible retrospective legislative measures. Circulars Central Excise Wed, 17 May 1989 00:00:00 +0530 https://www.taxtmi.com/circulars?id=6792