Valuation of Excisable goods – An overview

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....r quantity based or value- based. Duty on excisable goods is payable on one of the following basis: A. Specific duty (quantity-based) B. Duty based on value (ad-valorem) * Tariff value u/s 3(2) * Transaction value u/s 4 * Maximum Retail Price u/s 4A * I. Specific duty: - it is the duty based on specific unit say, volume, weight, length, thickness etc. Due to its inflexibility specific ....

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.... - For certain commodities tariff values has been fixed by the Central Govt. by issue of notification. Duty on goods covered u/s 3(2) is payable as the percentage of the tariff value fixed for the commodity. Government can fix different tariff values for different classes of goods or goods manufactured by different manufacturers or sold to different classes of buyers. * Pan Masala packed in reta....