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2022 (6) TMI 705 - AT - Central ExciseValuation - inclusion of TCS collected from the buyer over and above the price of the goods, from the buyer of scrap, or not - the TCS amount be treated as amount of money value of additional consideration and Central Excise duty is required to be paid - HELD THAT:- From the plain reading of Section 206C of Income Tax Act,1962, it is clear that the amount collected as TCS has nothing to do with the price of the goods but it is a tax collected from the buyer of the scrap and the same is deposited in the income tax department, therefore, the amount collected as TCS is a tax and in terms of Section 4, the tax is not includable in the assessable value - it is clear that any additional amount if it is flowing from the buyer to the assesse directly or indirectly the same is includable in the assessable value meaning thereby any amount which is coming from the buyer and retained by the appellant alone will be includable in the assessable value. In the present case the TCS is collected not as a additional consideration but explicitly as tax and same is deposited to the income tax department, therefore, it cannot be said that the amount of TCS belongs to the appellant - the amount of TCS cannot be considered as additional consideration flowing from the buyer to the appellant accordingly, the same is not includable in the assessable value for charging Excise Duty - appeal allowed - decided in favor of appellant.
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