Central excise refund - state JAmmu & Kashmir, Central Excise

[varun singla]

I want to discuss about the latest judegment of the tribunal about the central excise refund in the states like jammu and kashmir where the tribunal has held that the central excise duty refund given to the industrial unit is considered their income and tribunal held that industrial units have to give income tax on the central excise refund they are getting .In my view this decision is wrong ,as the department is doing wrong interpretation of the excise duty notification under which refund was given to the industrial units in jammu and kashmir.

Posts / Replies

[Rama Krishana]

I am in total agreement with your view since it is a different than duty drawback or depb or export promotion schemes. In my view, the exemption granted to units in Jammu and Kashmir (and various other parts of India) by way of refund can not equated with the or considered as Income From Other sources.