https://www.taxtmi.com/caselaws?id=843 For captively consumed goods, assessable value under the erstwhile Central Excise valuation rules must be based on the actual cost of production at the factory where the goods are manufactured, with notional profit added thereafter. The cost cannot be computed by combining the costs of all units of the assessee. Where short levy has been worked out on an incorrect costing basis, the valuation and duty liability must be recalculated on remand. The governing principle therefore requires fresh determination of assessable value and any consequential duty demand in accordance with the correct factory-level costing method. en-us Thu, 12 Oct 2006 00:00:00 +0530 Sun, 13 Apr 2008 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=843 For captively consumed goods, assessable value under the erstwhile Central Excise valuation rules must be based on the actual cost of production at the factory where the goods are manufactured, with notional profit added thereafter. The cost cannot be computed by combining the costs of all units of the assessee. Where short levy has been worked out on an incorrect costing basis, the valuation and duty liability must be recalculated on remand. The governing principle therefore requires fresh determination of assessable value and any consequential duty demand in accordance with the correct factory-level costing method. Case-Laws Central Excise Thu, 12 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=843