https://www.taxtmi.com/caselaws?id=306084 Excise valuation of job-worked goods applies settled principles that exclude excise duty on raw materials where Modvat credit has been availed from the production cost of the final product. The assessable value must instead be computed on the basis of the raw material value, job-work charges, manufacturing profit and processing expenses. The job worker's profit is relevant only to the extent required by the valuation formula, rather than as a separate unrestricted addition. The note clarifies that Modvat-related duty is not includible in cost, while job-worker profit remains part of the assessable value within the governing computation. en-us Thu, 04 Nov 2004 00:00:00 +0530 Mon, 09 Jan 2023 15:34:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306084 Excise valuation of job-worked goods applies settled principles that exclude excise duty on raw materials where Modvat credit has been availed from the production cost of the final product. The assessable value must instead be computed on the basis of the raw material value, job-work charges, manufacturing profit and processing expenses. The job worker's profit is relevant only to the extent required by the valuation formula, rather than as a separate unrestricted addition. The note clarifies that Modvat-related duty is not includible in cost, while job-worker profit remains part of the assessable value within the governing computation. Case-Laws Central Excise Thu, 04 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306084