https://www.taxtmi.com/caselaws?id=268362 The Supreme Court held that for goods manufactured by a 100% export-oriented undertaking from indigenous raw materials and covered by the exemption notifications, excise duty had to be computed by reference to the domestic valuation applicable to like goods, not on FOB export price under Section 3(1) proviso (ii). Because the goods were not actually sold but were captively consumed, Rule 8 of the Central Excise Rules, 2000 provided the appropriate valuation method for the domestic benchmark. The Court also held that the notifications, which used the expression "allowed to be sold" in India, did not require actual sale; the exemption operated on that basis and the Tribunal's view was upheld. en-us Tue, 24 Nov 2015 00:00:00 +0530 Wed, 16 May 2018 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268362 The Supreme Court held that for goods manufactured by a 100% export-oriented undertaking from indigenous raw materials and covered by the exemption notifications, excise duty had to be computed by reference to the domestic valuation applicable to like goods, not on FOB export price under Section 3(1) proviso (ii). Because the goods were not actually sold but were captively consumed, Rule 8 of the Central Excise Rules, 2000 provided the appropriate valuation method for the domestic benchmark. The Court also held that the notifications, which used the expression "allowed to be sold" in India, did not require actual sale; the exemption operated on that basis and the Tribunal's view was upheld. Case-Laws Central Excise Tue, 24 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268362