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TMI BlogCash discount /Trade DiscountX X X X Extracts X X X X X X X X Extracts X X X X ..... Cash discount /Trade Discount X X X X Extracts X X X X X X X X Extracts X X X X ..... s calculated Assessable after deducting cash discount of 3% whether it is allowable under the the valuation rule 4 of the act or after arriving duty amount we will give discount or before duty we have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to calculate which is correct? Reply By Pradeep Khatri: The Reply: Cash discount permissible The Central Department has confirmed that cash discount is allowable as deduction, if actually passed o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n to buyer, if transaction is on principal to principal basis. CBE&C Circular No. 643/34/2002-CX dated 01-07-2002. Discount on quantity, cash and turnover is deductible from assessable value if give ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n under terms of sale or trade practice, known before removal of goods and actually passed on to buyers- Wearwell Tyres v CCE 2009 (12) TMI 416 - CESTAT, NEW DELHI = (2010) 257 ELT 126 (CESTAT). Cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h discount is cost of Finance - In CCE v Pace Marketing Specialities 2004 (167) ELT 401 (CESTAT) also, it was held that cash discount is cost of finance. It cannot form part of assessable value - same ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... view in Malwa Cotton Spinning Mills v CCE 2007 (10) TMI 209 - CESTAT, NEW DELHI= (2008) 224 ELT 425 (CESTAT). X X X X Extracts X X X X X X X X Extracts X X X X
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