https://www.taxtmi.com/caselaws?id=41263 For ad valorem excise duty, assessable value under Section 4(a) is confined to the first wholesale cash price reflecting manufacturing cost and manufacturing profit alone. Post-manufacturing expenses and profits, including selling, distribution, freight, insurance, commission and advertisement costs, cannot be added to the assessable value. Exemption notifications issued under Rule 8 may grant relief from duty, but they cannot create an alternative mode of assessment that departs from the statutory valuation scheme in Section 4 as judicially interpreted. Notifications treated as a separate price-list based assessment mechanism are inconsistent with the Act's valuation rule. en-us Fri, 03 Oct 1980 00:00:00 +0530 Mon, 31 May 2010 18:40:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=41263 For ad valorem excise duty, assessable value under Section 4(a) is confined to the first wholesale cash price reflecting manufacturing cost and manufacturing profit alone. Post-manufacturing expenses and profits, including selling, distribution, freight, insurance, commission and advertisement costs, cannot be added to the assessable value. Exemption notifications issued under Rule 8 may grant relief from duty, but they cannot create an alternative mode of assessment that departs from the statutory valuation scheme in Section 4 as judicially interpreted. Notifications treated as a separate price-list based assessment mechanism are inconsistent with the Act's valuation rule. Case-Laws Central Excise Fri, 03 Oct 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=41263