2017 (4) TMI 598

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....pellants Shri. Ashutosh Nath, Asstt. Commissioner(A.R.) for the Respondent Per: Ramesh Nair The fact of the case is that the appellant had cleared excisable goods for export under bond during the period from February, 2002 to October, 2002 and availed deemed credit on the same. The valuation of the said goods was done at 115% of the cost of production as provided in Rule 8 of the Central ....

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....one by taking landed cost of the raw-material and job charges which includes overheads and profit of the job worker. He submits that appellant have correctly taken into account various element like shrinkages, handing charges, interest etc. He submits that lower authorities have relied upon circular which exclusively in respect of CDs whereas the same method cannot be adopted for all the product. ....

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..... The value was adopted as per the principle laid down in the Hon'ble Apex Court decision in case of Ujagar Prints(supra). As per the judgment of Hon'ble Supreme court that landed cost has to be considered for valuation of the job work goods. The element such as handing charges, shrinkages and interest etc. are part of the landing cost of the raw material. Therefore in our view this must b....