Section 1: (1) The value of any excisable

goods shall be the normal ex-factory price, exclusive of excise duty, sales tax on such goods (2) The normal ex-factory price of any locally manufactured goods shall be determined on the following assumptions- (a) that the goods are treated as having been delivered to the buyer at the place of manufacture; (b) that the manufacturer shall include raw material costs, manufacturing costs, labour costs, profit margin, bank charges and interest and all other costs, charges and expenses incidental to the factory, production and sale; (c) that the manufacturer will bear any excise duty or tax chargeable under the law.