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TMI Blog2016 (6) TMI 1151X X X X Extracts X X X X X X X X Extracts X X X X ..... pondent JUDGEMENT Per: V. Padmanabhan This appeal is directed against the order of Commissioner (Appeals), Meerut dated 26/7/2007. The appellant is a manufacturer of writing and printing paper falling under Chapter 48 of the Central Excise Tariff. They sell their product to different customers and allow cash discounts to those who make prompt payment. The appellant made payment of excise duty o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issue has been decided by the Honble Supreme Court in the case of Purolator India Vs. CCE, Delhi-III - 2015 (323) ELT 227 (S.C.) 3. Ld. DR fairly agrees that the issue stands covered by the decision of the Apex Court. 4. In the cited decision of the Apex Court, the status of cash discounts, viz-a-viz, the concept of transaction value as defined in the Section 4 has been examined in detail. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce of the goods from the appellant's factory or depot as the case may be. The expression actually paid or payable for the goods, when sold' only means that whatever is agreed to as the price for the goods forms the basis of value, whether such price has been paid, has been paid in part, or has not been paid at all. The basis of 'transaction value' is therefore, the agreed contractual price. Furthe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nts in terms of the agreement of sale between assessee and its buyers, then the Apex Court has held that the same will need to be deducted from the sale price in order to arrive at the value of excisable goods at the time of removal. 6. We find that in the light of the Supreme Court's decision, the issue is settled. In line with this decision there will be no need to add back the discounts to the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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