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M/s Sarada Papers Ltd. Versus Commissioner of Central Excise, Nashik

2016 (1) TMI 272 - CESTAT MUMBAI

Valuation of goods - appellant had not passed the cash discount to their customers but deducted the quantum of cash discount from the assessable value at the time of clearance - Held that:- Issue is no more res integra as Tribunal in the case of Purolator India Ltd. vs. Commissioner of Central Excise, Delhi - [2004 (11) TMI 208 - CESTAT, NEW DELHI] had considered similar issue and it was held against the assessee therein on the ground that the cash discount which is not passed on is to be includ .....

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re available to all buyers. - Decided in favour of assessee. - Appeal No. E/2699/05 - Dated:- 20-10-2015 - M V Ravindran, Member (J) And C J Mathew, Member (T) For the Appellant : Shri S S Gupta, CA For the Respondent : Shri H M Dixit, Assistant Commissioner (AR) ORDER Per M V Ravindran This appeal is directed against Order-in-Appeal No. CEX.XI/JMJ/97/APL/NSK/05 dated 12.05.2005 passed by the Commissioner of Central Excise & Service Tax (Appeals), Nashik. 2. Heard both sides and perused the .....

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missions made by both sides and perusal of the records, we find that the issue is no more res integra as Tribunal in the case of Purolator India Ltd. vs. Commissioner of Central Excise, Delhi - 2005 (182) ELT 385 (Tri-Del) had considered similar issue and it was held against the assessee therein on the ground that the cash discount which is not passed on is to be included in the assessable value. Aggrieved by such order, the assessee therein took up the matter in Civil Appeal before the Apex Cou .....

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f such excisable goods was the price at which such goods were ordinarily sold in the course of wholesale trade, post amendment each transaction is looked at by itself. However, "transaction value" as defined in sub-clause (3)(d) of Section 4 has to be read along with the expression "for delivery at the time and place of removal". It is clear, therefore, that what is paramount is that the value of the excisable goods even on the basis of "transaction value" has only .....

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"when sold" is not meant to indicate the time at which such goods are sold, but is meant to indicate that goods are the subject matter of an agreement of sale. Once this becomes clear, what the learned counsel for the assessee has argued must necessarily be accepted inasmuch as cash discount is something which is "known" at or prior to the clearance of the goods, being contained in the agreement of sale between the assessee and its buyers, and must therefore be deducted from .....

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