why the valuation rules are necessary in excise ,customs and - TopicsExpress

why the valuation rules are necessary in excise ,customs and service tax?we can under stand based on this story............ There is an interesting story of stingy father ,whose young son was seriously ill.father vowed that if son get well,he will sell his cow and the amount received will be donated to the temple.as the luck would have it,the son got well !!!!! the father was in a fix. he,then ,took his cow along with his parrot in the market ,and announced that the cow is available for sale rs 100.everybody rushed to purchase the cow .the father then said that cow will be sold at rs 100 to the person who purchases the parrot for rs 10000.he sold cow for rs 100,parrot for rs 10000 and then he happily donated rs 100 to the temple .this an old example of tax planning !!!!!!!!!!!!!!

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