Methods of Valuation of Excisable goods Wherever excise duty is leviable at the rates

prescribed in Central Excise Tariff Act (CETA), the scheme of valuation of excisable goods is
governed by the provisions of section 4 of the excise Act, 1944. The value of the excisable
goods so determined under Section 4 is generally termed as the “Assessable value” based on
which the rate of duty is applied and the actual duty liability is calculated. Basis of calculation
of duty payable Excise duty is payable on excisable goods on the following basis – 1. Duty as
percentage based on Assessable value (advalorem duty) 2. Duty based on Maximum Retail
Price 3. Specific duty 4. Duty as percentage of Tariff Value.