Central Excise - Valuation - Scope of returnable packing material which is to be excluded from the assessable value

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.... Government of India Ministry of Finance (Department of Revenue) New Delhi Subject : Central Excise - Valuation - Scope of returnable packing material which is to be excluded from the assessable value. I am directed to say that the exact scope, meaning and interpretation of the words "returnable by the buyer to the assessee" used in Section 4(4)(d)(i) of the Central Excises and Salt A....

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....the buyer to the assessee and obviously that must be under an arrangement between the buyer and the assessee. It is not the physical capability of the packing to be returned which is the determining factor because, in the event, the words "by the buyer to the assessee" need not have found a place in the section, they would be superfluous. What is required for the purpose of attracting the applicab....