https://www.taxtmi.com/caselaws?id=167302 For valuation under Section 4 of the Central Excises and Salt Act, 1944, only the effective duty actually payable after full effect is given to an exemption notification is deductible from the selling price. A trade notice cannot override the statutory valuation scheme. Where the selling price included duty collected at a higher tariff rate, the excess over the duty actually payable was not deductible and formed part of the assessable value. The Tribunal also held that describing prices as ex-duty prices did not alter the statutory method of valuation. On that basis, the redetermination of assessable value and duty liability was upheld and the refund claim was confined in favour of the Revenue. en-us Wed, 22 Aug 1984 00:00:00 +0530 Mon, 15 Dec 2014 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167302 For valuation under Section 4 of the Central Excises and Salt Act, 1944, only the effective duty actually payable after full effect is given to an exemption notification is deductible from the selling price. A trade notice cannot override the statutory valuation scheme. Where the selling price included duty collected at a higher tariff rate, the excess over the duty actually payable was not deductible and formed part of the assessable value. The Tribunal also held that describing prices as ex-duty prices did not alter the statutory method of valuation. On that basis, the redetermination of assessable value and duty liability was upheld and the refund claim was confined in favour of the Revenue. Case-Laws Central Excise Wed, 22 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167302