https://www.taxtmi.com/caselaws?id=366204 For captively consumed goods, notional profit under rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975 is to be included in assessable value, even if the assessee incurs a loss on manufacture or sale of the final product. The valuation of inputs or intermediate goods consumed within the factory is based on cost of production plus the profit element that would have arisen on external sale. A lower profit element can be accepted only if supported by evidence, and losses on the finished product do not displace the valuation rule. On the facts, the assessable value adopted below was not shown to be wrong and the appeal failed. en-us Wed, 29 Aug 2018 00:00:00 +0530 Thu, 05 Mar 2020 15:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366204 For captively consumed goods, notional profit under rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975 is to be included in assessable value, even if the assessee incurs a loss on manufacture or sale of the final product. The valuation of inputs or intermediate goods consumed within the factory is based on cost of production plus the profit element that would have arisen on external sale. A lower profit element can be accepted only if supported by evidence, and losses on the finished product do not displace the valuation rule. On the facts, the assessable value adopted below was not shown to be wrong and the appeal failed. Case-Laws Central Excise Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366204