2015 (10) TMI 611 - SCH - Central Excise

Valuation of goods - Inclusion of interest on advance received - Supreme dismissed the appeal filed by Revenue holding that advance received by the respondent herein from M/s. Jindal Iron and Steel Company has not influenced the price which was charged during the period in question. Appeal was filed against the decision of Tribunal 2005 (4) TMI 219 - CESTAT, BANGALORE wherein Tribunal held that price at which the goods have been sold to M/s. JISCO prior to the receipt of advance and after regularization of the advance, more or less remained the same. price at which goods were sold to M/s. JISCO depended on the prices at which their competitors sold similar goods to them.

Summary

The Supreme Court dismissed the appeals as a finding of fact showed that the advance received did not influence the price charged during the relevant period. The Customs, Excise and Service Tax Appellate Tribunal's order was upheld.