Thursday, 19 December 2013

Transaction value of related parties acceptable for excise if it's in line with price charged from o

Excise : Where assessee is selling his produce to independent buyers and also to related person at same prices, rule 8 of Valuation Rules is inapplicable for valuing sales to related party because said rule applies only if there is no sale; payment of duty based on transaction value charged from related party cannot be faulted


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