9911796707
TMI Blog2013 (10) TMI 991X X X X Extracts X X X X X X X X Extracts X X X X ..... e value of the vehicle, particularly when in respect of other goods procured directly by them on the account of Eicher, used as raw material, their transaction value is taken into account and credit is taken of the duty paid on those goods. The value of chassis for the purpose of arriving at the assessable value of the complete motor vehicle shall be the assessable value of the chassis worked out by Eicher under Rule 8 of the Excise Valuation Rules, and not its actual cost - the applicant has not been able to make out a case for full waiver of pre-deposit. the applicant No. (1) directed to make deposit of 25% of duty – upon such submission balance dues would stand waived and its recovery stayed during the pendency of the appeal – Parti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... value in terms of the decision of Hon ble Supreme Court in Ujagar Prints case and subsequently in Pawan s Biscuits case. 3. As per contra, the Ld. A.R appearing for Revenue submitted that from the invoice issued by M/s. Eicher Motors at the time of removal of chassis was bifurcated by them as cost of the chassis at 10% profit totally shown as assessable value under Rule 8 (supra). However, while arriving at the assessable value of fully built vehicle, the assessee did not add 10% of cost out of valuation of chassis under Rule 8 of Central Excise Valuation Rules on the pretext that this did not represent the cost of the chassis. This resulted into under valuation of the vehicle and therefore, demand of duty for the period 2004-2005 to 11/1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The observation of the Larger Bench is reproduced below : 28. We are not able to appreciate as to how having taken credit of the duty paid on chassis on the basis of 110% of the cost of production/manufacture, Bhagirath would not include the additional 10% of cost in the assessable value of the vehicle, particularly when in respect of other goods procured directly by them on the account of Eicher, used as raw material, their transaction value is taken into account and credit is taken of the duty paid on those goods. 29. In the above premises, we conclude that the value of chassis for the purpose of arriving at the assessable value of the complete motor vehicle shall be the assessable value of the chassis worked out by Eicher under ..... X X X X Extracts X X X X X X X X Extracts X X X X
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