https://www.taxtmi.com/caselaws?id=44277 The amended Explanation to Section 4(4)(d)(ii) of the Central Excises and Salt Act requires assessable value to be reduced only by the excise duty actually payable after giving full effect to any applicable exemption notification. The retrospective amendment, introduced by the Finance Act 1982, integrates exemption notifications into the valuation exercise and replaces the earlier two-stage method that deducted the full tariff duty before applying the notification. The operative effect is that the deductible amount is the effective duty in force after exemption, not the unreduced duty initially leviable under the tariff. en-us Tue, 07 May 1996 00:00:00 +0530 Wed, 09 Jul 2014 13:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=44277 The amended Explanation to Section 4(4)(d)(ii) of the Central Excises and Salt Act requires assessable value to be reduced only by the excise duty actually payable after giving full effect to any applicable exemption notification. The retrospective amendment, introduced by the Finance Act 1982, integrates exemption notifications into the valuation exercise and replaces the earlier two-stage method that deducted the full tariff duty before applying the notification. The operative effect is that the deductible amount is the effective duty in force after exemption, not the unreduced duty initially leviable under the tariff. Case-Laws Central Excise Tue, 07 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=44277