9911796707
TMI BlogInclusion of freight and insurance charges in the assessable valueX X X X Extracts X X X X X X X X Extracts X X X X ..... rance charges in the assessable value. In exercise of the powers conferred under Section 37B of the Central Excise Act, 1944, Central Board of Excise and Customs considers it necessary, for the purpose of uniformity in connection with valuation of excisable goods to issue the following instructions. 2. Attention is invited to CBEC's Circular No. 533/29/2000-CX., dated 24-5-2000 [2000 (118) E. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AT erred in drawing an inference that the ownership in the property continued to be retained by the assessee till it was delivered to the buyer for the reason that the assessee had arranged for the transport and transit insurance. Such a conclusion is not sustainable". In this judgment Hon'ble Supreme Court also quoted Section 39 of 'Sales of Goods Act, 1930' and held that the machinery, handed- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al Excise, Delhi - 2002 (146) E.L.T. 31 (S.C.). The only difference which has been pointed out is that in the case of Escorts case (supra) the sale was at the factory gate whereas in this case the sale was from the depot. Learned Counsel for the appellants admit that the freight and insurance charges up to the Depot would be includible in the assessable value for the purposes of excise. However, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... [as on 1-7-2000] was identical to the earlier provision contained in section 4(4)(b)(i), section 4 (3)(c)(ii) was identical to the earlier provision in section 4(4)(b)(ii) and rule 7 of the Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000, took care of the situation covered by the earlier section 4(4)(b)(iii). In the Finance Bill, 2003 (clause 128), the definition " ..... X X X X Extracts X X X X X X X X Extracts X X X X
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