Valuation of tobacco products for the purposes of payment of basic excise duty & NCCD levied as duty of excise post introduction of GST

Valuation of tobacco products for the purposes of payment of basic excise duty & NCCD levied as duty of excise post introduction of GST https://www.taxtmi.com/article/detailed?id=9708 The article examines the post GST dispute over whether excise/NCCD on chewing tobacco should be valued by transaction value at factory gate or by RSP based valuation preserved via an earlier notification; it argues the unchanged 55% abatement cannot absorb combined excise, NCCD and GST compensation cess burdens, rendering the RSP abatement arbitrary and incompatible with excise valuation principles, and recommends revising the abatement to about eighty percent or adopting uniform transaction value assessment. en-us Thu, 11 Mar 2021 09:12:04 +0530 Thu, 11 Mar 2021 09:12:04 +0530 TaxTMI RSS Generator Valuation of tobacco products for the purposes of payment of basic excise duty & NCCD levied as duty of excise post introduction of GST https://www.taxtmi.com/article/detailed?id=9708 The article examines the post GST dispute over whether excise/NCCD on chewing tobacco should be valued by transaction value at factory gate or by RSP based valuation preserved via an earlier notification; it argues the unchanged 55% abatement cannot absorb combined excise, NCCD and GST compensation cess burdens, rendering the RSP abatement arbitrary and incompatible with excise valuation principles, and recommends revising the abatement to about eighty percent or adopting uniform transaction value assessment. Articles Central Excise Thu, 11 Mar 2021 09:12:04 +0530 https://www.taxtmi.com/article/detailed?id=9708