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TMI Blog2015 (12) TMI 1158X X X X Extracts X X X X X X X X Extracts X X X X ..... reparations falling under Chapter sub-Heading 2710.90 and 3403.10 respectively of the Schedule to Central Excise Tariff Act, 1985. It has been selling goods to its customers on cash sales basis as well as on credit. If the goods are sold on cash sales basis, i.e., against the delivery of goods, immediate cash payment is realised and the assessee has been giving cash discount of 1.75 per cent. Insofar as credit sales are concerned, it receives the payment after the expiry of credit period given. The price which is charged by the assessee from the customers is by uniform price. Insofar as credit sales are concerned, for the purpose of arriving at the transaction value, the assessee is entitled to adjust the interest on receivable. Since that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t basis carried out calculations. To say it precisely, interest on receivables was calculated at the rate of Rs. 0.563 per unit quantity and benefit thereof was claimed. This request of the assessee was not accepted by the Assistant Commissioner, who issued Show Cause Notice dated 29.01.1998 in this behalf. The proposed move in the Show Cause Notice was thereafter confirmed vide Order-in-Original dated 17.04.1998. This order was upheld by the Commissioner (Appeals) as well as Customs, Excise and Gold (Control) Appellate Tribunal (hereinafter referred to as the Tribunal). The appeal was filed against the order of the Tribunal in this Court. The said appeal being Civil Appeal No. 4142 of 2006 was disposed of by remitting the matter to the Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce for a given product is the normal price and the one mentioned in the CoD invoice is the discounted price. Further, according to the Tribunal, none of these credit sale invoices indicate any claim of interest on receivables. On that basis, finding is arrived at to the effect that the assessee has not been able to establish that the price charged on the goods sold to the customers on credit basis contained an element of interest inbuilt therein and since there is no evidence of such interest having been separately recovered by the assessee from the customers, the assessee was not entitled to claim any deduction of any "interest on receivables" from sale price for the purpose of determining the assessable value of the said goods. After goi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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