2019 (2) TMI 1019

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....e is whether under the facts and circumstances the extended period of limitation have been rightly invoked for issuing the show cause notice. 2. M/s KEI Industries Ltd, Bhiwadi (Rajasthan) (hereinafter called Appellant) are manufacturer of Power Cable. It has been alleged that the appellant cleared "Copper Wire" to their own units located at Delhi, Silvasa and Chopanki. Further alleged, appellant paid Excise Duty on "assessable Value" only and not on value determined at 110% under Rule 8 of Central Excise Valuation Rule, 2000, for the goods to their own units. 3. Mr. Hashmi, DGM(Excise), in his statement recorded, stated the co. have shown the price of goods at 110% of cost of production, based on the cost accountant certificate. It w....

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....per book, which were obtained whenever price of copper has been varied substantially. Fresh CA certificate was obtained for the valuation purpose of the cost of production and duty was paid accordingly. As per the appellant, in some instances they have paid excess excise duty during the period under dispute. It is further alleged that since the invoices did not make specific declaration of 110% cost of production and therefore it was presumed that the goods were undervalued. The value declared in the invoices was taken as the cost of production and further 10% was added and accordingly the demand for differential duty was raised in Show Cause Notice dated 4th May, 2012 for the period 2007-08 and 2008-09 invoking the extended period of limit....