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2015 (5) TMI 526 - CESTAT MUMBAI

2015 (5) TMI 526 - CESTAT MUMBAI - TMI - Valuation of goods - Suppression of value - inclusion of notional interest - Held that:- Contract value has not been reduced due to advance taken and in case of higher advances, the value is lower. In the list given in the show cause notice, it is seen that in large number of cases, the advance amount is 10% of the contract value and in few cases the advances are in the range of 20 to 25%. However, the show cause notice does not give the value of the lift .....

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urthy, Adv. For the Respondent : Shri N N Prabhudesai, Superintendent (AR) ORDER Per: P K Jain: Brief facts of the case are that the appellants are engaged in the manufacture, erection and commissioning of lifts. The case of the Revenue is relating to valuation. The appellants have paid the duty as per the contract value. The case of the department is that the appellants have been taking advances from various customers and the quantum of advance varies from customer to customer and the advances .....

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ore, whenever they enter into a contract, they normally insist on advance. The quantum of advance depends upon the customer. For example, in case of a government contract, they do not take any advance. In case of reputed companies, a quantum of advance of only 10% of the contract value, while in other cases 25 to 30%. However, the quantum of advance is nothing to do with the contract value. He further submitted that in the show cause notice itself, it can be seen that for the same model of lift .....

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