value of excisable goods
This query is : Resolved
17 July 2008
As per recent provisions of the Central Excise Act, wherein certain specified articles are to be taxed on the basis of the maximum retail price and not the wholesale price.
so, If goods are sold at different wholesale prices to different classes of buyer, can wholesale prices be more than its assessable value?
so, If goods are sold at different wholesale prices to different classes of buyer, can wholesale prices be more than its assessable value?
Rajesh Kumar
(Expert)
11 February 2009
If the goods are assessable under Section 4A, actual wholesale price can be more than assessable value. The duty is required to paid on the assessable value only, even when transaction price is higher.
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