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

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....rtment 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 Act, 1944 in the context of excluding the cost of packing....

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.... 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 applicability of the exclusion clause in Section 4(4)(d)(i) is tha....