Nirma Limited V/s CCE Vadodara
A study of the Judgement passed by Hon’ble Supreme Court of India on 9th October 2015 vide Civil Appeal No. 3621/2007 dated 9th October 2015 read with Nirma Limited V/s CCE Vadodara-2005(8) TMI337-CESAT, Mumbai Order No.- A/1650-1653/2005-WZ/C-III dated 26th August 2005 on Valuation of Excisable Goods brings about the following:
(a) Determination of Cost of Production is to be made as per CAS-4;
(b) Interest, Depreciation( not part of relevant production) and Profit Margin can not be taken into consideration while arriving at Cost of Production.
Provisions considered:–
(a) Rule 8 & Rule 9 of the Valuation Rules 2000;
(b) Section 4(1)(a), 4(1)(b), 11A (1) of the Central Excise Act;
(c) Rule 6(b)(i) of the Valuation Rules, 1975
(d) Order No. 692/8/2003-CX dt. 13-2-2003
(e) Rule 173C; and
(f) F.No. 258/92/96-CX dt. 30-10-1996
Contributed by:
CMA Rakesh Singh
B.Com (Hons), FCMA,FIV,MIMA,MICA
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Guidance Notes on Valuation and PPT Presentation on CAS-4 is under Revision. Will prefer to include Valuation aspects in Service Tax and Works Contract etc.The New Guidance Notes will be themed as ” Valuations under GST”. Please send your comments, suggestions and recommendations on Email: cmasingh.rakesh@gmail.com
CMA Rakesh Siingh
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CESAT KOLKATA
M/s BOC India Limited V/s CCE, Kolkata-V
Order No. S-1548/KOL/2012
If CAS-4 Certificate of the assesses were faulty— certificate can not be used as instrument in determination of Cost of Production whereas it was required to be determined for arriving at the assessable value of the goods.
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Valuation of Goods—– CESAT Ahmdabad–M/s Jewel Metals Pvt Ltd. V/s CCE Vapi… E/1152/2011——- Submission of assessee to produce CAS-4…to value goods manufactured on job work basis before the adjucating authority found sufficient to remand the matter to AO to examine the case as fresh.
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