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Cash discounts deductible while determining Transaction value of excisable goods

Central Excise - By: - Bimal jain - Dated:- 3-9-2015 - Dear Professional Colleagues, We are sharing with you an important judgement of the Hon ble Supreme Court in the case of Purolator India Ltd. Vs. Commissioner of Central Excise, Delhi - III [2015 .....

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kground: Purolator India Ltd. ( the Appellant ) is engaged in the manufacture of excisable goods, namely Filter Elements, Inserts, and Cartridges and Components. These goods are either cleared by the Appellant to various vehicle manufacturers or stoc .....

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tment. In these declarations, the Appellant claimed deduction towards Cash discount on Excise duty payable to arrive at the assessable value under Section 4 of the erstwhile Central Excise and Salt Act, 1944 ( the Excise Act ). The Department alleged .....

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(3) TMI 42 - SUPREME COURT] ( Synotex Case ), dropped the duty demand on the issue of Cash discount for the period prior to July, 2000. However, on the remaining issues, the Commissioner confirmed duty demand of ₹ 44,66,247/- with equivalent p .....

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f the Appellant s goods. Thereafter, the Tribunal upheld the decision of the Ld. Commissioner. Being aggrieved, the Appellant preferred an appeal before the Hon ble Supreme Court. Held: The Hon ble Supreme Court relying upon the decision in the case .....

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d introduces the concept of Transaction value so that on each removal of excisable goods, the Transaction value of such goods becomes determinable. Whereas previously, the value of such excisable goods was the price at which such goods were ordinaril .....

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It is therefore clear that what is paramount is that the value of the excisable goods even on the basis of Transaction value has only to be at the time of removal, that is, the time of clearance of the goods from the Appellant s factory or depot as .....

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