https://www.taxtmi.com/caselaws?id=53942 Where the Revenue treats the principal under a loan-licence arrangement as the manufacturer, central excise duty cannot be fastened on the job-worker because the manufacturer identified by the Department remains the assessee. For medicines manufactured on job work, assessable value is not to be determined under Rule 7 of the Central Excise Valuation Rules merely by reference to the principal's depot sale price; the proper approach is the settled cost-based job-work valuation principle. The text states that Board clarification and Tribunal precedent support this position, and that the demand and penalty could not be sustained against the job-worker. en-us Wed, 30 Mar 2005 00:00:00 +0530 Sat, 16 Oct 2010 10:39:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53942 Where the Revenue treats the principal under a loan-licence arrangement as the manufacturer, central excise duty cannot be fastened on the job-worker because the manufacturer identified by the Department remains the assessee. For medicines manufactured on job work, assessable value is not to be determined under Rule 7 of the Central Excise Valuation Rules merely by reference to the principal's depot sale price; the proper approach is the settled cost-based job-work valuation principle. The text states that Board clarification and Tribunal precedent support this position, and that the demand and penalty could not be sustained against the job-worker. Case-Laws Central Excise Wed, 30 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53942