CREDIT NOTE AGAINST EXCISE DUTY PAID

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..... Customer has place order for the material wherein they have mentioned discount. while preparing the invoice we are not treat any discount . Can we pass them credit note for discount giving effect of excise duty which is already paid and reverse the excise duty (i.e. the excise duty difference of discount adjusted against other clearance) Pl advice. - Reply By Pradeep Khatri - The Reply .....

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..... = In Aries Agrovet Industries v CCE (2007 (8) TMI 186 - CESTAT, BANGALORE )= (2008) 221 ELT 209 (CESTAT) , It was held that discount given at end of month by way of credit note are eligible for deduction from assessable value - same view in CCE v Tempo Industries (2008 (2) TMI 105 - CESTAT, CHENNAI)= 2008 226 ELT 375 (CESTAT). In Gujarat Borosil v CCE 2009 (12) TMI 379 - CESTAT, .....

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..... AHMEDABAD = (2010) 253 ELT 610 (CESTAT) , it was held that discount can be passed on later by way of a credit note. If buyer were aware of discount structure, deduction of discount is admissible even if not shown in Invoice. Trade discount paid later is allowable as deduction - CCE v DCM Textiltes (2006 (2) TMI 168 - SUPREME COURT OF INDIA) = (2006) 195 ELT 129 (SC). Discount equal to .....

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..... CENVAT credit allowable - In Incab Industries Ltd v CCE (1997 (6) TMI 205 - CEGAT, NEW DELHI) =1998 (98) ELT 560 (CEGAT) , the assessee ha d agreed to give discount equal to CENVAT credit. It was held that assessable value has to be calculated after allowing this deduction from price. - Reply By DEEPAK SHARMA - The Reply = Dear suryakant, it is extremely stated that modvat of excise duti .....

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..... es on the basis of credit note is inadmissible - CREDIT NOTE AGAINST EXCISE DUTY PAID - Query Started By: - SURYAKANT MITHBAVKAR Dated:- 5-12-2011 Central Excise - Got 2 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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