Home Case Index All Cases Central Excise Central Excise + SC Central Excise - 2015 (12) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (12) TMI 1158 - SC - Central ExciseValuation - deduction of cash discount / interest on receivables - Finalization of provisional assessment - Held that:- Tribunal in the impugned order, mentioned that the price charged in the invoices for sales on credit terms are of WHEEL BEARING GR 88 and ALL PURPOSE GRS 88 as ₹ 68.00 and ₹ 69.50 respectively. On the other hand, price charged in invoices for cash sales was ₹ 66.81 and ₹ 68.28 respectively. - Tribunal itself, after mentioning those prices, failed to notice that the difference between price charged on credit terms and cash sales was to the extent of 1.75 per cent, which was nothing but cash discount. - Invoices for sales on credit terms, interest for the credit period was in built in the credit price. - Impugned order is set aside - Decided in favour of assessee.
|