Central Excise : After introduction of transaction value based duty from 1-7-2000, a manufacturer of LPG selling the product in bulk to an Oil Marketing Company (OMC) for further sale in packed form to dealers/domestic consumers and recovering ex-refinery price from the OMC as sale consideration is —

Central Excise : After introduction of transaction value based duty from 1-7-2000, a manufacturer of LPG selling the product in bulk to an Oil Marketing Company (OMC) for further sale in packed form to dealers/domestic consumers and recovering ex-refinery price from the OMC as sale consideration is —

• liable to duty based on transaction value viz. price recovered from the OMC ; and

• he cannot adopt ex-storage price [Administered Price Mechanism (APM) price] as the assessable value of the said product in bulk, because the provisions of Section 4 of the Central Excise Act as amended w.e.f 1.7.2000 cannot be ignored.

[2015] 63 taxmann.com 107 (Mumbai - CESTAT) (LB)

CESTAT, MUMBAI BENCH (Larger Bench)

Oil & Natural Gas Corporation Ltd.