https://www.taxtmi.com/caselaws?id=306084 Excise valuation excludes duty paid on raw materials from the cost of production where Modvat credit has been availed, preventing the credited input duty from being loaded into the assessable value of final excisable goods. Valuation of goods manufactured on job work requires inclusion of raw-material value, job-work charges, processing expenses and manufacturing profit. The job worker's profit is therefore included only to the extent required by the applicable valuation computation. These principles distinguish excluded Modvat-related input duty from the cost elements that form part of the assessable value. 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 excludes duty paid on raw materials from the cost of production where Modvat credit has been availed, preventing the credited input duty from being loaded into the assessable value of final excisable goods. Valuation of goods manufactured on job work requires inclusion of raw-material value, job-work charges, processing expenses and manufacturing profit. The job worker's profit is therefore included only to the extent required by the applicable valuation computation. These principles distinguish excluded Modvat-related input duty from the cost elements that form part of the assessable value. Case-Laws Central Excise Thu, 04 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306084