2015 (8) TMI 940 - SCH - Central Excise

Denial of refund claim - original payment of duty at the time of clearance of the goods from the factory was based on sales price and since those sales prices constituted the correct assessable value, no excess payment of duty has taken place - Supreme dismissed the appeal fled by the Revenue holding that there is no reason to interfere with the impugned orders - The appeal was filed against the decision of Tribunal 2003 (7) TMI 234 - CESTAT, NEW DELHI , wherein Tribunal held that Since original payment of duty was based on amounts higher than the transaction value, the appellant was rightly eligible for refund of duty paid on the excess amounts. Since the credit notes indicated not only revised prices, but also Cenvat amounts, there could also be no question of the appellant passing on higher amount of excise duty to the buyers. Both price and duty were settled taking into account credit notes. All payments, both price and duty, were net of credit note amounts.