the Appellate Tribunal was right in holding that the second reassessment proceedings were not validly initiated and thereby quashing the reassessment proceedings-the proceedings initiated by the AO for the second time under Section 147 is barred by limitation-even the proviso to Section 147 does not come into play on the facts of the case-AIT-2010-373-HC Even if the goods belong to same entry, manufacture does take place if new identifiable/marketable goods known in market emerge due to operation conducted-the process of ironing applied to the stiched brassieres prior to their packing was a process incidental to the completion of the brassieres as a manufactured product-process of purification and filtration being incidental or ancillary to the manufacture of a marketable product, the Respondent was entitled to Modvat credit on the inputs involved-AIT-2010-370-HC Larger Bench of CESTAT rules the Tribunal has ample power to condone the delay in filing the appeal including the one filed under section 35 E (4)-AIT-2010-372-CESTAT Corruption in IRS takes its toll-Deputy Commissioner of Income Tax Dhananjay Kumar arrested by CBI in Mumbai-Joint Commissioner of Customs & Excise Hemant Kothikar also arrested by CBI FM directs expediting of Cadre Restructuring in CBDT & CBEC Tariff Value for import of Brass Scrap is 3924-Customs Non-Tariff Notification No. 78 Chief Justice of Gauhati High Court Justice Ranjan Gogoi to be Chief Justice of Punjab & Haryana High Court Anti-dumping duty on imports of Acrylic Fibre originating in, or exported from Japan and Belarus-Customs Tariff Notification No.85 Prescribing SION for new product “Propylene” under Chemical & Allied Products Group-DGFT PN 7 Inclusion of Finished Leather in the Focus Product Scheme of FTP-DGFT PN 6 Exchange Rate for imported goods is Rs 47.25 per US Dollar and Rs 60.35 per EURO-Exchange Rate for export goods is Rs 46.30 per US Dollar and Rs 58.70 per EURO-Customs Non-Tariff Notification No. 77-Click on Exchange Rate for details Anti Dumping Duty under the Notification No.15/2007 is not applicable to Spandex Yarn (Elastomeric yarn)-Customs Circular No.30 Import of goods under Notification No.13/2010 for Commonwealth Games, 2010-Customs Circular No.31 Larger Bench of CESTAT rules charges towards pre-delivery inspection and after-sale-service by dealers from buyers of the cars to be included in the assessable value of cars for payment of excise duty-AIT-2010-366-CESTAT merely because there was non accounting of goods, penalty was technical and inference of clandestine removal was not called for-AIT-2010-365-HC ITAT rules provision for doubtful debts and provision for standard debts are to be taken into consideration for computation of book profit u/s. 115JB of the IT Act-AIT-2010-361-ITAT HC rules slitting of aluminum foils into customized width, mounting the same on the printing machine and thereafter printing the necessary text thereon is covered for 80IB benefit as it falls within the ambit of the term “produce”-AIT-2010-363-HC Definitive Anti-dumping duty imposed on imports of Coumarin, originating in, or exported from China-Customs Tariff Notification No. 82 Special Bench of ITAT Ruling-where a forward contract is entered into by the assessee to sell the foreign currency at an agreed price at a future date falling beyond the last date of accounting period, the loss is incurred to the assessee on account of evaluation of the contract on the last date of the accounting period i.e. before the date of maturity of the forward contract-AIT-2010-355-ITAT-SB

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Circular No. 813/10/2005-CX
25th Apirl, 2005

F.No. 209/30/2003-CX 6

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise & Customs

Subject:- Clarification with regards to valuation of the goods, reg.

Sir,

I am directed to refer to Board's letter No. 6/39/2000-CX.I dated 1.7.2002 clarifying certain points relating to the Central Excise Valuation ( Determination of Price of Excisable Goods) Rules,2000.

2. A number of references seeking further clarification on some of the points clarified in the Circular mentioned in para 1 above have been received in the Board. These points are being clarified in the table enclosed. These clarifications supercede the clarification given in above referred circular.

3. Trade Notices may be issued for the benefit of the Trade.

4. Hindi version will follow.

5. Receipt of this circular may kindly be acknowledged.

Yours faithfully

Ashok Kumar
Under Secretary to the Govt. of India

F.No.6/18/2003-CX.I
Dated the 25th Apirl, 2005

Sl.No.

Old Sl.No.

Point of Doubt

Clarification

How will valuation of samples be made done which are distributed free, as part
of marketing strategy, or as gifts
or donations?

In case of free samples, the value should be determined under Rule 4 of Central Excise Valuation

( Determination of Price of Excisable Goods) Rules, 2000.

How will valuation be done when inputs

or capital goods, on which CENVAT

credit has been taken, are removed as such

from the factory, under the erstwhile

sub-rule (1C) of rule 57AB of the

Central Excise Rules, 1944or under rule

3 (4) of the Cenvat Credit Rules, 2001

or 2002?

In such situations, the provisions of Rule 3(5) of Cenvat Credit Rules, 2004 would apply.