2006 (5) TMI 266 - AT - Central Excise

Summary

The Appellate Tribunal CESTAT, New Delhi, upheld the demand of duty of Rs. 1,10,725/- and reduced the penalty to Rs. 20,000/- for the appellant who had collected excess transit insurance charges from buyers. The excess amount collected is liable to be included in the transaction value as per Section 4(3)(d) of the Central Excise Act, 1944. The appellant was directed to pay the duty amount within six weeks for waiver of the penalty. Compliance report was scheduled for 17-7-06.