2009 (3) TMI 752 - AT - Central Excise

Summary

Issues:
Whether duty on goods should be paid based on transaction value or Administered Pricing Mechanism (APM) price post-amendment to Section 4 of the Central Excise Act by Finance Act, 2000.

Analysis:
The judgment revolves around the issue of whether duty on goods, specifically LPG, should be paid based on transaction value or the Administered Pricing Mechanism (APM) price post-amendment to Section 4 of the Central Excise Act by Finance Act, 2000. The Tribunal considered a similar case where it was held that assessment should be done based on the APM price rather than the transaction value. The appellant's counsel cited relevant case laws to support their position. The Revenue representative, however, argued for a re-consideration in light of the amended provisions of Section 4, emphasizing that pre-1-7-2000 case laws may not be applicable post-amendment. The Tribunal acknowledged the prima facie case made by the appellant against duty based on transaction value and noted that valuation of petroleum products similar to the present case should be based on the APM price, irrespective of the period. As a result, the Tribunal granted waiver of pre-deposit and stay of recovery for the dues adjudged against the assessee.

The Tribunal also considered the request for early disposal of the appeals due to the high stakes involved in the cases and accordingly scheduled the appeals for a specific date. The judgment highlights the importance of consistent application of valuation principles for petroleum products and the need to consider the impact of legislative amendments on such valuation methods. The decision underscores the significance of case laws and legal precedents in determining the appropriate valuation basis for excisable goods, particularly in complex cases involving high stakes.