https://www.taxtmi.com/caselaws?id=42077 For valuation of excisable goods under Section 4(4)(d)(ii) of the Central Excises and Salt Act, the deductible amount from a cum-duty price is only the effective excise duty actually payable where an exemption notification applies. The Explanation inserted by the Finance Act, 1982 with retrospective effect from 1-10-1975 was treated as part of the statutory scheme and as governing the computation of assessable value. It clarified that, in exempted cases, the deduction is limited to the duty actually payable after exemption, not the gross duty otherwise payable. The contrary view that the full duty could be excluded was no longer tenable. en-us Thu, 01 Aug 1985 00:00:00 +0530 Wed, 09 Jun 2010 10:00:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=42077 For valuation of excisable goods under Section 4(4)(d)(ii) of the Central Excises and Salt Act, the deductible amount from a cum-duty price is only the effective excise duty actually payable where an exemption notification applies. The Explanation inserted by the Finance Act, 1982 with retrospective effect from 1-10-1975 was treated as part of the statutory scheme and as governing the computation of assessable value. It clarified that, in exempted cases, the deduction is limited to the duty actually payable after exemption, not the gross duty otherwise payable. The contrary view that the full duty could be excluded was no longer tenable. Case-Laws Central Excise Thu, 01 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=42077