GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
Notification No. 12/2011-Central Excise (N.T.)
New Delhi, the 24th March, 2011
G.S.R. (E). - In exercise of the powers conferred by sub-section (2) of
section 3 of the Central Excise Act, 1944 (1 of 1944), the Central Government,
hereby makes the following further amendment in the notification of the
Government of India in the Ministry of Finance (Department of Revenue),
No.
20/2001-Central Excise(N.T.), dated the 30th April,2001 published in the Gazette
of India, Extraordinary, vide G.S.R.318 (E), dated the 30th
April,2001, namely: -
In the said notification, -
- in the opening paragraph, for the words and figures “at the rate of 60%
of the retail sale price”, the words and figures “at the rate of 45% of the
retail sale price”; shall be substituted;
- after the opening paragraph the following shall be inserted, namely:-
'Provided that where goods bearing the brand name of another person are
cleared in the course of sale by a manufacturer to such person and the retail
sale price is not affixed on the goods, the transaction value of such goods
shall be deemed to be the tariff value.'
Illustration:
If a manufacturer X clears goods bearing a brand name “ABC”
to Y, who is the brand name owner on sale basis at the transaction value of
` 200/- per garment, duty at the rate of 10% would be chargeable on `
200 /-which is the deemed tariff value';
Explanation:- For the purposes of this notification the „transaction
value‟ shall have the meaning assigned to it under section 4 of the Central
Excise Act, 1944 (1 of 1944).
(Sanjeev Kumar Singh)
Under Secretary to the Government of India
[F. No. B-1/3/2011 –TRU]
Note.- The principal
notification No. 20/2001-Central
Excise(N.T.), dated the 30th April,2001, published in the Gazette of
India, Extraordinary, vide number G.S.R.318(E), dated the 30th
April,2001 was last amended vide
notification no.7/2011-Central Excise,
(N.T.),dated the 1st
March,2011, published vide number G.S.R.138(E), dated the 1st
March,2011.