Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: list of goods taxed at 4% :: articles on VAT and GST in India :: form 3cd :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TDS :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: empanelment :: due date for vat payment :: ACCOUNTING STANDARDS
Latest Circulars »
  Registrations open for NCFE’s NFLAT (National Financial Literacy Assessment Test)
 Sovereign Gold Bond Scheme 2016 -17 – Series III
 Minutes of the Monetary Policy Committee Meeting October 3-4, 2016
 Registrations open for NCFE’s NFLAT (National Financial Literacy Assessment Test)
 Auction for Sale (Re-issue) of 7.35 per cent Government Stock 2024
 Auction of Government of India Dated Securities October 17, 2016
  Setting The Priorities Right (Shri S. S. Mundra, Deputy Governor – September 28, 2016 – at the 3rd SBI Banking and Economics Conclave in Mumbai)
  Financial Stability in a Weak Global Environment (Shri S. S. Mundra, Deputy Governor - September 22, 2016 - at the 7th SEACEN High Level Seminar for Deputy Governors in–charge of Financial Stability and Supervision, Mumbai)
 RBI issues Directions to United India Co-operative Bank Ltd., Nagina, Bijnor, Uttar Pradesh – Withdrawal of Directions
  RBI-Revision of interest rates for Small Savings Schemes
  Annual E-Filling of Documents under the Companies Act. CORPORATE LAWS

Central Excise Circular No. 913/03/2010
February, 05th 2010

Circular No. 913/03/2010 -CX

F. No. 6/21/2003-CX.1 (Pt)

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise and Customs

New Delhi dated the   3rd February, 2010


Director General (All)

Chief Commissioners of Central Excise including LTU (All)

Commissioners of Central Excise (All)


Sub.:- Valuation of MS and HSD sold amongst OMCs MOU Withdrawal of instructions dated 14-2-2007- regarding.

Attention of field formations is invited to the Boards instructions issued from F No. 6/21/2003-CX.I (Pt) on 14 -2 -2007, a copy of which is available on the departmental web-site The issue discussed in the said instructions is regarding valuation of petroleum products sold by one oil company to other oil company based on import parity price as per MOU entered between them.

2. In the aforesaid instructions field formations were directed to decide the cases pertaining to SCNs issued to the Oil companies on the inter company sale during the relevant period on the basis of the decision of CESTAT, Bangalore in the case of CCE Vishakhapatnam vs HPCL [2005(187) ELT 479 (Tri.Bang.)] as the SLP filed by the department had been dismissed by the Honble Supreme Court as reported in 2006(196) ELT A 72 (SC).

3. Subsequently, in another decision on the same subject in the case of BPCL V/s Commissioner of Central Excise Nasik, CESTAT vide its order No. A/220/09/EB/C-II dated 17-6-2009 [2009(242) ELT. 358 T], has held that price as per MOU cannot be considered as transaction value under section 4 and decided the case in favour of the department. M/s BPCL, have reportedly filed an appeal against this order of CESTAT before the Supreme Court after obtaining COD clearance.

4. In view of the aforesaid developments, it has been decided to withdraw the Boards instructions dated 14-2-2007. However, as the appeal of BPCL is pending before the Supreme Court, field formations are directed to consign all the pending show cause notices on the issue to the call book pending a final verdict from the Supreme Court. Further, for the cases within the review/appeal period necessary action to file appeal may be taken immediately.

5. Receipt of this circular may be acknowledged

6. Hindi version would follow.

Yours faithfully,


Under Secretary (CX.1)

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions