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2018 (11) TMI 613 - AT - Central ExciseValuation - inclusion of subsidy amount under RIPS in assessable value - the amount is paid to the appellant in the form of VAT 37B Challans under the Head of VAT Liability. It is this Challan which the appellant has used in the subsequent period for discharge of subsequent VAT liability - penalty - Held that:- It is an apparently admitted fact that the appellant was paying total VAT charged at applicable rates on sale of goods to the State Exchequer and was filing the VAT returns. The VAT 37B Challans, the appellant was utilising to discharge the output VAT liability for the subsequent period. In the present case, the remission is in the nature of subsidy which the appellant was receiving from the State Government in the form of VAT 37B Challans and not from the buyers of the appellant. The said remission was not only as good as cash but can also not be considered as an additional consideration. Extended period of limitation - Held that:- Discharge of liability by way of VAT 37b Challans has already been held as legally sustainable methodology of discharging tax liability for subsequent period. Department was not entitled to invoke the extended period of limitation - demand could be confined only to the normal period of one year. Appeal allowed - decided in favor of appellant.
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