TMI Blog2018 (6) TMI 870X X X X Extracts X X X X X X X X Extracts X X X X ..... nt Bajaj, Advocate for the appellant. Shri M.R. Sharma, Authorized Representative (DR) for the Respondent. Per. C.L. Mahar :- The brief facts of the matter are that the appellant is engaged in manufacture of cement, clinker falling under Chapter sub-heading 25232910, 25232930, 25231000 of Central Excise Tariff Act, 1985. It is a matter of fact that the appellant s factory is situated in the State of Rajasthan and they have been availing the benefit of The Rajasthan Investment Promotion Scheme, 2003 [the RIPS] under this scheme the appellant got credit of certain subsidy on account of wages and loans subsidy which was credited to their account with VAT 37B chatters, which were used for discharge of sales tax liability. It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e is not includable in the assessable value in terms of Section 4 (3) (d) of the Central Excise Act, 1944. 2. The learned DR appearing for the Revenue has also agreed that the issue in the appeal is already settled in view of this Tribunal s decision in the case of M/s Shree Cement Ltd. vs. CCE, Alwar 2018 TIOL 748 CESTAT DEL. 3. We have heard both the sides. 4. As mentioned by the learned Advocate, the issue in question is already settled as this Tribunal has already held in the case of M/s Shree Cement Ltd. vs. CCE, Alwar 2018 TIOL 748 CESTAT DEL., wherein it has held that :- 7. We have heard both sides at length and perused the appeal record. As out lined above, the appellants are covered by the Inv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ltd. case, the assessee had opted for remission of tax scheme under which a portion of the VAT paid was remitted back to the assessee. The Tribunal held that such subsidy amounts are not required to the included in the transaction value. 9. In the present case we know that for the initial period the assessees are required to remit the VAT recovered by them at the time of sale of the goods manufactured. A part of such VAT is given back to them in the form of subsidy in Challan 37 B. Such Challans are as good as cash but can be used only for payment of VAT in the subsequent period. In terms of the scheme of the Government of Rajasthan payment of VAT using such Challan are considered legal payments of tax. In view of the above, Revenue i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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