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
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
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