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2015 (4) TMI 350 - SUPREME COURT

2015 (4) TMI 350 - SUPREME COURT - 2015 (318) E.L.T. 626 (SC) - Valuation of goods - Inclusion of sales tax amount - amount of 75% was retained by the assessee - Held that:- This Court in Commissioner of Central Excise, Jaipur II vs. Super Syncotex (India Ltd.) [2014 (3) TMI 42 - SUPREME COURT] has considered the issue - Accordingly, as per the aforesaid decision, the assessee/respondent herein will not be liable to pay any excise duty on the sales tax amount which was retained under the Incenti .....

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Arijit Prasad, Adv. Ms. Rashmi Malhitra,Adv. Mr. B. Krishna Prasad, Adv. For the Respondents : Mr. V. Lakshmikumaran,Adv. Mr. M.P . Devanath,Adv. Mr. Vivek Sharma, Adv. Ms. L.Charanaya,Adv. Mr. Aditya Bhattacharya, Adv. Mr. R. Ramachandran,Adv. Mr. Anandh K., Adv. Mr. Rajesh Kumar, Adv. ORDER The respondents herein are engaged in the manufacture of yarn and waste of the man-made fibre . It was availing sales tax exemption under the Sales Tax Incentive Scheme of 1989 on the yarn and waste, as is .....

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26.11.2001 demanding a sum of ₹ 37 ,03,161 /- alleging that the excise was payable on the amount after including the aforesaid 75% sales tax as well. After giving opportunity to the respondents to reply to the said show cause notice and after hearing the respondents the Commissioner vide order dated 10.3.2003 confirmed the aforesaid amount of demand and also imposed penalty of equal amount. The penalty was also imposed on the individual officers of the respondents. The respondents, apart f .....

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pondents was not includible while calculating the excise amount. Against this judgment present appeal is preferred. We may state here that the period involved is November 1996 to July, 2001. Show cause notice in this behalf, as noted above, was issued on 26.11.2001. The valuation of the excisable goods has to be in terms of Section 4 of the Central Excise Act, 1944. The said Section was amended in the year 2000 which amendment came into effect on 1.7.2000. The legal position relating to identica .....

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