valuation

Excise duty is a duty on manufacture or produced of excisable goods in India. Goods must be moveable and marketable. New & identifiable product known in the market should emerge, except in case of deemed manufacture. Clearances of goods are not the taxable event i.e., manufacturing activity is taxable event.

if rate of duty is not mentioned in CETA on the date of removal then the duty which is prevailing on the time of manufacture of goods shall be considered for the purpose of payment of excise duty.

An excise or excise tax (sometimes called a specialexcise duty) is an inland tax on the sale, or production for sale, of specific goods or a tax on a good produced for sale, or sold, within a country or licenses for specific activities.

14% will be charged

At the time of clearance of excisable goods the prevailing rate should be charged i.e. 14% (in this case, as you have mentioned the said rate.).

Dear Anish

The query has the same relevant facts as in the case law 'VAZIR SULTAN TOBACCO-SC' where it was decided that the manufacturer in so situation shall be liable to pay duty at the rate & valuation in force as on the last date of levy. Last day of levy means the last day when the rate was mentioned in CETA.

Also, Rule 5 of CER, 2002 doesn't cover this situation.

Thank you