Valuation for captive consumption duty payment, Central Excise

[shamanthaka mani]

Rule 8 of Central Exicse Valuation Rules 2000 has been amended vide Notificaiton No. 6/2003 CE (NT) dt.5.8.2003, wherein the words 'one hundred and fifteen percent' has been substituted by the words 'one hundred and ten percent'.   What could be the reason behind this amendment by substitution.  Will it be retrospective, atleast upto 1.4.2003.

Posts / Replies

[Pradeep Khatri]

Normally, the profit is considered @ 10%. Hence, the 110%. it is not retrospective amendment.