9911796707
TMI Blog2000 (9) TMI 503X X X X Extracts X X X X X X X X Extracts X X X X ..... nufacturing the said Ingots out of the raw materials purchased by them from the open market on their own account and selling the same to wholesale independent buyers. There is no dispute as regards the assessable value of the said Ingots being manufactured by the appellants on their own account. However, apart from this, the appellants are also manufacturing Steel Ingots out of the raw materials supplied by their customers, only Conversion Charges being charged by them from their customers. For the purposes of assessable value of the said ingots, they have adopted the same assessable value at which, the Ingots being manufactured by the appellants, are being sold by them to independent wholesale buyers and in respect of which, value under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uding the cost of raw materials, which, in turn is based not on the cost of raw materials actually used in the Ingots, but after taking into account the burning loss arising in the process of manufacture of ingots. 3. We have heard Shri R.K. Roy, ld. JDR for the Revenue. 4. We have given our careful consideration to the arguments advanced from both the sides. The appellants have mainly relied upon the fact that the normal price of their ingots being available, the same should be adopted by the Revenue for the purposes of calculation of duty. However, we find that apart from the fact that the said provisions of Rule 6B of Central Excise Valuation Rules, 1975 are applicable in case of captive consumption of goods, there is also nothing on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so happened because the appellants have arrived at the assessable value on the above basis by excluding the burning loss sustained in the course of manufacture of such excisable goods. He has held that the value of the materials which were lost during burning have to be taken into account while determining the value of the excisable goods so cleared during the material period of each demand. We agree with the above contention of the adjudicating authority. It is the total cost of the raw materials with which the appellants started the manufacturing process, which has to be taken into account and the same cannot be restricted to the cost of the raw materials actually found present in the final product. We also note that the appellants have ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
