2011 (4) TMI 906

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.... The appellant is engaged in the manufacture of various types of yarns such as nylon yarn, rayon yarn, etc. On introduction of transaction value provisions under the Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000 from 01/11/2000, the appellants sought provisional assessment on the ground that all their sales are through depots only and at the time of clearance the....

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.... could not have been allowed since the assessment was to be done in terms of Rule 7 of Valuation Rules, 2000 which requires that when the gods are not sold at the time and place of removal but are transferred to a depot, 'normal transaction value' is the value of the greatest aggregate quantity sold. The second ground was that, in this case the provisional assessment should have been finalised wit....

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....nbsp; 5. However, the learned DR submitted that the impugned order is legal and proper and in terms of Rule 7 of Valuation Rules, the assessments has to be based on 'normal transaction value' which is defined in Valuation Rules.   6. We have considered the submissions made by both the sides. According to Rule 7 of the Valuation Rules, 2000, where the excisable goods are not sold by the asse....