Central Excise - Valuation - Inclusion of interest in assessable value - Sale of credit through bill discounting facility - Regarding

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..... om F. No. 6/42/87-CX.1] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise and Customs, New Delhi Subject : Central Excise - Valuation - Inclusion of interest in assessable value - Sale of credit through bill discounting facility - Regarding. I am directed to say that instances have been brought to the notice of the Board where some u .....

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..... 19.5% to 20% and the customer is also charged extra 20% interest for the number of days exceeding 45. In case of direct sale without routing the bill through bank, the customer is reported to get a cash discount of 4%. Clarification has been sought as to whether the interest charged at the flat rate of 5% of the amount of the bill can be included in the assessable value. 3. The matter has been e .....

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..... charges while determining the assessable value of the goods. 4. The Board desires that assessing officers should raise demands or resort to provisional assessments and keep them pending till the disposal of the Review petition by the Supreme Court. 5. Field formations and trade interests may be informed suitably. 6. The receipt of this circular may be acknowledged. - Circular - Trade Notic .....

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