Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2011 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (7) TMI 978 - AT - Central ExciseInclusion in Assessable value - Turn over Tax - Rule 7 of the Central Excise (Valuation) Rules, 2000 - The case of the department is that in respect of vehicles sold from the depots situated in the State of Tamilnadu, the assessee has collected Turn Over Tax (TOT) from the buyers even though in the invoices issued to the buyers, the column against the turnover tax is left blank - Decision of Tribunal in Bangalore Paints Ltd., Vs. (2001 (3) TMI 165 - CEGAT, BANGALORE) - Held that:- turn over tax is a permissible deduction and the definition of transaction value under the new section effective from 01/07/2000 also clearly states that the tax paid or payable on the goods shall not form part of the transaction value for the purpose discharge of excise duty liability - Decided in favor of assessee.
|