TMI Blog2010 (7) TMI 496X X X X Extracts X X X X X X X X Extracts X X X X ..... n account of pre-matured re-payment of the loan amount of sales tax, which was converted into a loan amount in terms of the scheme issued by the State Government. The same being not on account of deduction from the Sales Tax, as such, the question of refusal of deduction of amount of Rs. 7,79,70, 453/- do not appear to be in consonance with the concept of transactional value within the meaning of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onfirmed as the difference between the total amount of Service Tax calculated by the appellants from their customers and the total amount of such tax paid under the deferred pre-mature pre-payment scheme. 4. The scheme under which the differed payment of Service Tax has been cleared by the appellant was that during the period from 1-6-98 till 31-5-2003 the assesses permitted to collect the Servi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated the total amount in terms of Annexure-1 to the said Notification incorporating the said scheme. Accordingly, for the period 1-6-98 to 31-5-2003 the appellant had collected total sales tax of amount of Rs. 12,36,47,755/- and in terms of the said scheme on account of pre-matured payment the appellant paid sum of Rs. 4,36,77,308/-. As a consequent thereof the amount of Rs. 7,99,70,453/- stood de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessable value in terms of the Section 4(4)(b)(ii) of Section 4(3)(d) of the Central Excise Act, 1944. 6. Records prima facie discloses that the retention of amount of Rs. 7,99,70,453/- was not on account of deduction from the Sales Tax but on account of loss, which would be suffered by the appellants on account of pre-matured re-payment of the loan amount of sales tax, which was converted ..... X X X X Extracts X X X X X X X X Extracts X X X X
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