9911796707
TMI Blog1997 (7) TMI 501X X X X Extracts X X X X X X X X Extracts X X X X ..... is dependent upon the value of the T.V. sets. Value is to be determined in terms of Section 4 of the Central Excises and Salt Act, 1944. The appellants filed a price list claiming their sale price including duty at Rs. 6,670/- describing their goods as Broadcast Television Receiver Sets (other than Monochrome Sets) of Screen exceeding 36 c.m. and of value not exceeding Rs. 5000/- per set. After deducting element of duties on these sets from the declared price of Rs. 6,670/- the approved assessable value under Section 4 was claimed by them at Rs. 4,995/-. Thus, their television receiver set was valued at a price not exceeding Rs. 5,000/-. 2. Contention of the original authority is that by not adding the element of duty suffered by inputs u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 1996 (81) E.L.T. 672 (Tribunal) = 1996 (12) RLT 261 CEGAT. It has been held in this judgment that duty paid on inputs with regard to which Modvat credit is availed of by a manufacturer is not includible in the assessable value of the final product inasmuch as Modvat credit does not directly affect or reduce the assessable value automatically in the context of Section 4(1)(a) of the Central Excises and Salt Act, 1944, valuation therein being relatable to normal price. In this connection, we reproduce below para 19 of the said judgment which emphasised by the learned Advocate for the respondents : 19. It was on this logic that the old Rule 56A was interpreted by the Ministry of Finance by letter dated 25-9-1976 and by the Government in U ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ely, in the case of Mysore Paper Mills, and another relied upon by the learned Advocate for the respondents in the case of Dai-Ichi Karkaria, we are of the view that this matter is squarely covered by the judgment of the larger Bench. The judgment of the Apex Court is not relevant to the controversy. In that judgment namely, the respondents Mysore Paper Mills had taken a point that although the value of the wrapping paper may be includible in the value of the paper, the manufacturer is entitled to claim relief on account of the duty which was already paid on this wrapping paper. Wrapping papers were not bought from the market but manufactured by the manufacturer himself. It was also contended that the respondents themselves were manufacturi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
