TMI Blog2018 (11) TMI 1202X X X X Extracts X X X X X X X X Extracts X X X X ..... of Regulation 13 thereof. The transaction value is the price actually paid or payable for the goods. The price actually paid in the present case is adhoc/ interim price and the price payable would be the price as would be finally fixed by RERC - Ld. Commissioner Adjudication has gone wrong while still considering the petitioned price to be the transaction value for the lignite supplied by the appellant. Otherwise also, since the price could only be fixed by RERC, an appointed authority under Electricity Act, 2003, once petitioned price has not been approved by this authority, the appellant has no right to recover the same from RWPL - the petitioned price cannot be categorised as price actually payable. Hence, is wrongly considered as the transaction value. Extended period of limitation - Held that:- There is no suppression of facts on part of the appellant. The question of intent to evade tax has no relevance in the given facts and circumstances. Ld. Commissioner Adjudication is therefore opined to have been wrong while permitting the Department for invoking the extended period of limitation for issuing the impugned Show Cause Notice - extended period cannot be invoked. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RWPL, the Regulatory Authority viz. RERC, a State Commission formed under the Electricity Act, 2003 to decide the price at which the lignite is to be sold to RWPL. The appellant thus had to file petition every year for the determination of price of lignite. The interim price was decided by RERC pending the final determination of price which has still not been finally decided. Hence, the appellant approached the Department vide its letter dated 14.10.2011 requesting for provisional assessment of lignite supplied to M/s RWPL under Rule 7 of Central Excise Rules, 2002. But instead of acknowledging the provisional assessment, Department insisted not only for furnishing the bank guarantee but had also entertained a view that appellants have under valued the lignite supplied to RWPL on the ground that the appellants bid price/ petitioned price should be the final price and not the interim price. It is submitted that the documents as that of the provisional price assessment Orders of RERC have totally been ignored and are denied to be treated as transaction value by the Adjudicating Authority below, same is alleged to be an erroneous finding. Order is accordingly prayed to be set aside. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Petitioned Price Adhoc Price Page No. of the Appeal Paper Book 1. 01.10.2011 to 31.03.2012 30.09.2011 1816 1108 165-178 2. 01.04.2012 to 17.10.2012 02.04.2012 1781 1193 179-185 3. 18.10.2012 to 31.03.2013 15.10.2012 1671 1266 186-195 4. 01.04.2013 to 30.06.2013 04.04.2013 1671 1266 196-201 5. 01.07.2013 to 10.10.2013 28.06.2013 1671 1266 202-203 6. 11.10.2013 to 31.03.2014 11.10.2013 1843.32 1266 204-208 7. 01.04.2014 to 31.03.2015 30.05.2014 1857.96 1397 209- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the definition of transaction value is mentioned in Section 4(1)(a) of the Excise Act acquires relevance which reads as follows:- Transaction value means the price actually paid or payable for the goods, when sold, and included 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 of the sale or at any other time, including, but not limited to, any amount charged for, or to make provision for, advertising or publicity, marketing and selling organisation expenses, storage, outward handling, servicing, warranty, commission or any other matter; but does not include the amount of duty of excise, sales tax and other taxes, if any, actually paid or actually payable on such goods. Perusal thereof makes it abundantly clear that transaction value is the price actually paid or payable for the goods. The price actually paid in the present case is adhoc/ interim price and the price payable would be the price as would be finally fixed by RERC. Thus, we are of the opinion that Ld. Commissioner Adjudication has gone wrong while still considerin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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