CBEC Circular related to valuation of goods sold to independent and related parties is not violative of central excise laws
Court :
Supreme Court of India
Brief :
The Supreme Court of India ("the Supreme Court") in the case of Commissioner of Central Excise & Service Tax v. Merino Panel Product Ltd [Civil Appeal No. 6891 OF 2018 dated December 5, 2022] held that the Circular No. 643/34/2002-CX ("Circular") dated July 1, 2002, issued by the Central Board of Excise and Customs ("CBEC") clarifying the doubts regarding Valuation Rules with respect to goods when sold partly to related persons and partly to independent buyers, is not violative of the Central Excise Act 1994 ("CEA") and the Central Excise Valuation Rules 2000 ("CEVR").
Citation :
Civil Appeal No. 6891 OF 2018 dated December 5, 2022
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Bimal Jain
Published in Excise
Views : 225
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