Redetermination of 'value' of inputs for purposes of Rule 57F (1) (ii) - Central Excise - 67/88

Redetermination of 'value' of inputs for purposes of Rule 57F (1) (ii) Circular No. 67/88 Dated 22-12-1988 [From F. No. 267/109/88-CX.8] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise Customs, New Delhi Subject : Redetermination of 'value' of inputs for purposes of Rule 57F (1) (ii) I am directed to say that doubts have been raised to whether for purposes of Rule 57F (1) (ii) of the Central Excise Rules, the value /rate of duty of the inputs cleared as would require to be re-determined or not. The matter has been examined in consultation with Law Ministry. The opinion of Ministry of Law is enclosed. It has been approved by the Board that in cases where the inputs are at the same price at which they are received, the value assessment would be the value on which duty has already assessed. Even in cases of transfers of such inputs, or than by sale, the assessable value on which they first assessed can be accepted as the value for payment duty. The question of adopting a different value for assessment of the inputs cleared as such would only arise in the cases where the same are sold by the assessee at other price than the purchase price. The above instructions may be brought to the cases of the field formations, Trade interests may also be suitable informed. Receipt of these instructions may please be ackowledged.