https://www.taxtmi.com/caselaws?id=290132 Excise valuation under the amended scheme remains confined to manufacture, so assessable value cannot include post-manufacturing costs, expenses or trading profit. Costs arising after manufacture, including selling, distribution, publicity and marketing expenses, are excluded because the valuation rule cannot convert excise into a tax on sale. Packing used only for transit or secondary handling, freight, storage, insurance and similar post-manufacturing expenses are deductible where not intrinsic to manufacture. Trade discount allowed under normal wholesale practice is also deductible. Sales to related persons do not displace a genuine arms-length wholesale price where independent buyers are also sold to on commercial terms. en-us Tue, 24 Apr 1979 00:00:00 +0530 Thu, 10 Sep 2020 10:55:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290132 Excise valuation under the amended scheme remains confined to manufacture, so assessable value cannot include post-manufacturing costs, expenses or trading profit. Costs arising after manufacture, including selling, distribution, publicity and marketing expenses, are excluded because the valuation rule cannot convert excise into a tax on sale. Packing used only for transit or secondary handling, freight, storage, insurance and similar post-manufacturing expenses are deductible where not intrinsic to manufacture. Trade discount allowed under normal wholesale practice is also deductible. Sales to related persons do not displace a genuine arms-length wholesale price where independent buyers are also sold to on commercial terms. Case-Laws Central Excise Tue, 24 Apr 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290132