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        Bills

        OTHER CHANGES [INCLUDING CERTAIN CLARIFICATIONS/TECHNICAL CHANGES]

        2 February, 2022

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        IV. OTHER CHANGES [INCLUDING CERTAIN CLARIFICATIONS/TECHNICAL CHANGES]

        S.No.

        Amendment

        1.

        Notification No. 49/2008-Central Excise (N.T.) dated 24.12.2008, provides for Retail Sale Price(RSP) based valuation for specified goods and prescribes an abatement as a percentage of retail sale price for such goods. This notification was issued under section 4A of the Central Excise Act, 1944. Since then statutory/legal position has changed. Accordingly, this notification has been superseded by notification No. 01/2022- Central Excise (N.T.) dated the 1st February, 2022, in order to align the notification No. 49/2008-Central Excise (N.T.) with the current legal position, post rollout of GST regime.

         

         

        Full Text:

        Budget 2022-23 + FINANCE Bill, 2022

        Retail sale price valuation provisions superseded to align central excise valuation with the post GST legal framework under new notification. Notification No. 49/2008 set out retail sale price based valuation and abatements under section 4A of the Central Excise Act; it has been superseded by Notification No. 01/2022 dated 1 February 2022 to align excise valuation and abatement treatment with the post GST legal framework.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Retail sale price valuation provisions superseded to align central excise valuation with the post GST legal framework under new notification.

                              Notification No. 49/2008 set out retail sale price based valuation and abatements under section 4A of the Central Excise Act; it has been superseded by Notification No. 01/2022 dated 1 February 2022 to align excise valuation and abatement treatment with the post GST legal framework.


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