2013 (11) TMI 1466

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.... G.M.(Accounts) For the Respondent: Shri S. Misra, Addl. Commr.(A.R.) ORDER Per Dr. D.M. Misra: 1. This is an application seeking waiver of pre-deposit of duty of Rs.5,14,26,260/- and equal amount of penalty imposed under Section 11AC of Central Excise Act, 1944. 2. Shri Bipin Jain, Ld. Advocate for the applicant had submitted that the applicant had removed TMT bars from their facto....

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.... to all the clearances made from the factory during the month. The Ld. Advocate submitted that this is not as per the provisions of either Rule 4 or Rule 7 of Central Excise Valuation Rules, 2000. The Ld. Advocate further submitted that applying the price at which the goods were sold by the consignment agent nearest to the time of clearance of the goods from the factory, they have paid the differe....

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....er Rule 9 of the Central Excise Valuation Rules, 2000 and it was never alleged that the price of buyer of the consignment Agent, be adopted for determination of value of goods, cleared from the factory to the premises of consignment Agent on stock transfer basis. 5. Heard both sides and perused the record. We find that the limited issue involved in the present case relates to determination of t....

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....to the provisions of either Rule 4 or Rule 7 of Central Excise Valuation Rules, 2000. Prima facie, we find that the Ld. Commissioner though acknowledged the principle of adopting the selling price from the premises of consignment Agent nearest to the time of clearances of goods from the factory of Applicant, as the basis for determination of assessable value of goods transferred from the factory t....