TMI Blog2020 (2) TMI 1056X X X X Extracts X X X X X X X X Extracts X X X X ..... where it was held that even though the VAT payment was adjusted against the subsidy received by the appellant, there is VAT payment and the same is excludible from the assessable value. Appeal allowed - decided in favor of appellant. - Excise Appeal No. 52261 of 2019, 52262 of 2019, 52331 of 2019 - Final Order No. 50356-50358/2020 - Dated:- 21-2-2020 - HON BLE MR. RAMESH NAIR, MEMBER (JUDICIAL) AND HON BLE MR. RAJU, MEMBER (TECHNIAL) Shri Dhrup Tiwari, Advocate - for the appellant Shri V.B. Jain, DR - for the respondent ORDER Ramesh Nair: The brief facts of the case are that the appellants are manufacturing excisable goods and cleared on payment of duty on the value after deduction of VAT paid by them. In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (v) Greenlam Industries Ltd. Vs. CCE ST, Jaipur-I 2018 (4) TMI 1787 CESTAT NEW DELHI. He also relied upon the decision in the case of CCE, Mumbai-I Vs. Welspun Corporation Ltd. 2017 (5) TMI 177 CESTAT MUMBAI. 3. 3. Learned Authorised Representative appearing for the Revenue reiterates the findings of the impugned order. 4. We have heard both sides and perused the records. 5. We find that the issue involved herein is not res integra as the identical issue has been considered by this Tribunal in the case of Shree Cement (supra). The order passed by the Tribunal is re-produced below: 7. We have heard both sides at length and perused the appeal record. As out lined above, the appellants are covered by the Investmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the assesse 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 is not correct ..... X X X X Extracts X X X X X X X X Extracts X X X X
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