Determination of the value of the excisable goods for the purposes of charging central Excise Duty in respect of industrial units located in Jammu & Kashmir and availing VAT remission vide SRO 91 dated 16.03.05.

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..... of industrial units located in Jammu Kashmir and availing VAT remission vide SRO 91 dated 16.03.05. Circular No 880/18/2008-CX 22nd December 2008 F.NO. 6/12/2008 - CX 1 Government Of India Ministry Of Finance Department Of Revenue Central Board of Excise Customs Sub: Determination of the value of the excisable goods for the purposes of charging central Ex .....

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..... rice. In case no price adjustment is made the industrial unit shall not be entitled to any tax remission. Following examples given in SRO 91 make the scheme of remission clear: In the case mentioned below at "a" there shall be no remission of tax and in respect of case mentioned at "b", there shall be remission of Tax. a. No remission of Tax Qty Description of goods .....

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..... the Buyer = Rs 10,000 ( Since no VAT is paid to the state, total value of transaction for the manufacturer is Rs 10000) 3. In case mentioned at "a", the transaction value of Rs 10,000 is exclusive of the VAT, and the VAT of Rs 400, is charged separately from the customer and paid to the exchequer. In this case, there is no remission of VAT by the state, and transaction value inclusive of excis .....

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..... oods, .........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;.. 5 Further, the circular F.No. 354/81/200-TRU dated 30.6.2000 in paras Nos. 10 and 11 explains that only those taxes which are actually paid or are payable to the concerned governments are deductible for determination of Assessable value. Those am .....

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