Cir. No.255/89/1996-CX, dt. 29/10/1996
- Document type
- Circular
- Reference no.
- C
- Dated
Assessable Value Determination
Attention is drawn to Board"s Circular No. 251/85/96-CX dated 14.10.96 relating to determination of assessable value on account of changes made in the Finance Act 1996-97.
A further point has been raised by trade and field formation seeking clarification as to how the excisable goods lying in stock in various depots as on 28.9.96 have to be assessed to duty. The trade has given an illustration if the goods have been removed from the plant prior to 28.9.96 on payment of duty, say, on the basis of Rs. 100, but these goods got removed from the depot/stockyard on or after that date, say at Rs. 120, whether any differential duty will be involved in such cases.
It is hereby clarified that goods cleared from the factory gate prior to 29.9.96 when the changes made in section 4 came into force will be assessed in accordance with Section 4 as it existed prior to 29.9.96. It means that if the goods were being assessed at normal sale price at the factory gate, there will be no change in the position. If the goods were being assessed at sale depot price in accordance with the judgement of Hon"ble Supreme Court in the MRF case and the clearance has been allowed to be made from the factory gate before 29.9.96 in accordance with prevailing price at the sale depot even such assessments would remain unaffected by the amendment.
Sd/-
(S.C. Bhatia)
Under Secretary (CX-I)