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2016 (6) TMI 873 - CESTAT BANGALORE

2016 (6) TMI 873 - CESTAT BANGALORE - TMI - Refund - valuation - duty paid in excess on account of Liquidated Damages which was deducted from the invoice price - Held that:- The liquidated damages have to be deducted from the assessable value given in the invoice in respect of payment of central excise duty. When the duty has been paid in excess on account of not allowing the reduction for the liquidated damages, the same is liable to be refunded to the assessee. - Decided in favor of assesssee. .....

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refund of excise duty of ₹ 1,73,920/- (Rupees One Lakh Seventy Three Thousand Nine Hundred and Twenty only) in terms of Section 11B of the Central Excise Act 1944 on the ground that their buyer M/s. BSNL deducted Liquidated Damage charges (LD charges) including excise duty from the price payable to the applicant towards the goods supplied, as the goods were supplied during extended delivery period and that the duty claimed in the subject refund is the excise duty element of the said LD ch .....

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td. reported as United Telecom Ltd. V. CCE, 2006 (204) E.L.T. 626 (T-Bang.), duly upheld by the Larger Bench of the Honble Tribunal in CCE V. Victory Electricals Ltd. 2013 (298) E.L.T. 534 (T-LB). Following this judgment, this Honble Bench has allowed another three appeals of the same appellant in Final Order No. 22085-22087/2015, dated 2.9.2015 in Appeals No. E/10-12/2004. This appellant craves to place reliance on the said precedents, and prays for allowing the appeal in the interest of just .....

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been referred to by CESTAT s Larger Bench decision in the case of Victory Electricals Ltd. (supra) in paragraph five, which is given below: 5. Clause (d) of Section 4(3) defines the expression transaction value as follows: means the price actually paid or payable for the goods, when sold, and includes in addition to the amount charged as price, any amount that the buyer is liable to pay to, or on behalf of, the assessee, by reason of, or in connection with the sale, whether payable at the time o .....

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ue given in Section 4(3)(d) of Central Excise Act and held as under: 19. In our considered view, post the amendment of Section 4 and the statutory definition of transaction value in sub-section (d)(d) thereof, of the Act, the eventual value payable after factoring in any liquidated damages contractually stipulated for delayed supply would be the transaction value and this value would be the value relevant for levy of duty. 5.2. CESTAT in that decision further held that:- 20..wherever the assesse .....

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