https://www.taxtmi.com/caselaws?id=42163 Excise valuation under Section 4 of the Central Excises and Salt Act, 1944 is to be based on the normal price excluding the effective duty of excise, and the statutory exemption cannot be denied merely because the duty element was included in the price charged to customers. The retrospective Explanation to Section 4(4)(d)(ii) clarifies that effective duty means duty after allowing the exemption. A promissory estoppel plea also fails where the exemption is taken under Rule 8 of the Central Excise Rules, 1944 subject to an undertaking that the assessee will pay the full duty if determined, since no contrary enforceable promise is shown. en-us Tue, 09 Sep 1986 00:00:00 +0530 Wed, 09 Jun 2010 15:25:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=42163 Excise valuation under Section 4 of the Central Excises and Salt Act, 1944 is to be based on the normal price excluding the effective duty of excise, and the statutory exemption cannot be denied merely because the duty element was included in the price charged to customers. The retrospective Explanation to Section 4(4)(d)(ii) clarifies that effective duty means duty after allowing the exemption. A promissory estoppel plea also fails where the exemption is taken under Rule 8 of the Central Excise Rules, 1944 subject to an undertaking that the assessee will pay the full duty if determined, since no contrary enforceable promise is shown. Case-Laws Central Excise Tue, 09 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=42163