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2016 (10) TMI 870 - AT - Central ExciseCaptive consumption - Adjustment of short payment of duty with the excess payment of duty during the same year - self adjustment in the absence of provisional assessment - the correct value for excise duty purpose has been arrived at only on completion of the financial year and based on final accounts and following the CAS-4. When the value is arrived at based on annual data it is apparent that whatever value adopted by the appellant for captive clearances during the year are not based on final price as the same is not known at the time of clearance. - hot-rolled products of iron and steel. Held that:- the appellant was not allowed to have provisional assessment and the department now proceeds to demand of duty selectively for periods within the same financial year wherever the value is less than the Rule 8 value and refused adjustment within the same financial year when the value is determined higher than the Rule 8 value. It is apparent that the duty liability as already discharged on the basis of value which is not final. The net excess or shortage will have to be considered. In the present case, admittedly, no refund has been claimed or under consideration for the impugned period even though overall payment by the appellant for the whole year is much higher than the actual liability. Appeal allowed - decided in favor of appellant.
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