https://www.taxtmi.com/caselaws?id=311294 CESTAT Mumbai allowed the appeal regarding recovery of Central Excise duty, interest and penalty for retention of scrap generated from raw materials received from principal manufacturers. The tribunal held that scrap value is not includable in assessable value, following precedents from Raaja Magnetics Ltd. and PR. Rolling Mills Pvt. Ltd. cases. The retention of scrap/waste during job work does not represent additional consideration and does not depress job work conversion charges, therefore not liable to be included in assessable value of job worked goods cleared to principal manufacturer. en-us Wed, 15 Feb 2023 00:00:00 +0530 Tue, 19 Dec 2023 06:39:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311294 CESTAT Mumbai allowed the appeal regarding recovery of Central Excise duty, interest and penalty for retention of scrap generated from raw materials received from principal manufacturers. The tribunal held that scrap value is not includable in assessable value, following precedents from Raaja Magnetics Ltd. and PR. Rolling Mills Pvt. Ltd. cases. The retention of scrap/waste during job work does not represent additional consideration and does not depress job work conversion charges, therefore not liable to be included in assessable value of job worked goods cleared to principal manufacturer. Case-Laws Central Excise Wed, 15 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311294