https://www.taxtmi.com/caselaws?id=52316 In job work valuation under Ujagar Prints, assessable value must reflect the cost of raw material, processing charges and the job worker's profit. Scrap sale proceeds arising during manufacture are to be set off against the raw material cost because they reduce the effective cost borne by the manufacturer. Without that adjustment, the raw material component would be counted twice, leading to an inflated assessable value. The commentary distinguishes cases treating scrap as additional consideration, noting that they did not address the raw-material side of the valuation exercise. en-us Tue, 11 Nov 2003 00:00:00 +0530 Wed, 03 Jul 2024 12:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52316 In job work valuation under Ujagar Prints, assessable value must reflect the cost of raw material, processing charges and the job worker's profit. Scrap sale proceeds arising during manufacture are to be set off against the raw material cost because they reduce the effective cost borne by the manufacturer. Without that adjustment, the raw material component would be counted twice, leading to an inflated assessable value. The commentary distinguishes cases treating scrap as additional consideration, noting that they did not address the raw-material side of the valuation exercise. Case-Laws Central Excise Tue, 11 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52316