2007 (12) TMI 19 - AT - Central Excise

Decision of SC that beneficial circular will operate with retrospective effect is applicable to this case Hence in view of circular dated 1.7.02 for the period prior to 1.7.02 the assessable value of physicians samples will be arrived on basis of 115% of cost of production

Summary

The Appellate Tribunal CESTAT, Mumbai decided that for the period before 1-7-2002, the assessable value of physicians' samples should be based on 115% of the cost of production as per a beneficial circular issued by the CBEC. The decision is in line with the Supreme Court ruling that beneficial circulars have retrospective effect. The case is referred back to the original Bench for further orders.