https://www.taxtmi.com/caselaws?id=41229 Excise valuation of aluminium extruded shapes and sections had to be based on the actual invoice price of the aluminium slugs actually consumed, not a notional control-period price, because assessable value is determined by actual raw-material cost and manufacturing profit. The adoption of the actual invoice price was therefore sustained. Where duty-paid slugs were used and proforma credit was available, however, the duty element could not form part of the assessable cost of the finished goods, so that amount had to be excluded. The valuation succeeded only to that limited extent, with the raw-material pricing basis otherwise upheld. en-us Fri, 05 Dec 1980 00:00:00 +0530 Mon, 31 May 2010 14:00:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=41229 Excise valuation of aluminium extruded shapes and sections had to be based on the actual invoice price of the aluminium slugs actually consumed, not a notional control-period price, because assessable value is determined by actual raw-material cost and manufacturing profit. The adoption of the actual invoice price was therefore sustained. Where duty-paid slugs were used and proforma credit was available, however, the duty element could not form part of the assessable cost of the finished goods, so that amount had to be excluded. The valuation succeeded only to that limited extent, with the raw-material pricing basis otherwise upheld. Case-Laws Central Excise Fri, 05 Dec 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=41229