https://www.taxtmi.com/caselaws?id=2016 In job work manufacture, assessable value is to be based on the raw material value, conversion or job charges, manufacturing expenses and profit, together with related realizations such as scrap value and documentation charges, rather than the principal's declared post-manufacturing price. The processor cannot ignore the correct raw material value where it is known and declared. The limitation objection was rejected because the assessee had not filed the required price declaration and had adopted an incorrect valuation despite awareness of the price structure, so the extended period was sustained. Duty was required to be recomputed on actual value components, and the penalties were reduced. en-us Tue, 26 Jun 2007 00:00:00 +0530 Tue, 15 Apr 2008 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2016 In job work manufacture, assessable value is to be based on the raw material value, conversion or job charges, manufacturing expenses and profit, together with related realizations such as scrap value and documentation charges, rather than the principal's declared post-manufacturing price. The processor cannot ignore the correct raw material value where it is known and declared. The limitation objection was rejected because the assessee had not filed the required price declaration and had adopted an incorrect valuation despite awareness of the price structure, so the extended period was sustained. Duty was required to be recomputed on actual value components, and the penalties were reduced. Case-Laws Central Excise Tue, 26 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2016