2016 (1) TMI 696

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..... fact that the customers are not paying the amount in time and the cash discount has not been passed - Held that:- As relying on Purolator India case [2015 (8) TMI 1014 - SUPREME COURT ] it is held that the appellants are entitled for claiming deduction of cash discount from the transaction value on the clearances made from the factory to all the customers. - Decided in favour of assessee - Excise .....

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..... the Central Excise Act, 1944 or not. 3. The said issue came up before the Apex Court in the case of Purolator India Ltd. - 2015-TIOL-193-SC-CX, wherein the Hon'ble Apex Court has observed as under:- 18. It can be seen that Section 4 as amended introduces the concept of transaction value so that on each removal of excisable goods, the transaction value of such goods becomes determi .....

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..... alue, whether such price has been paid, has been paid in part, or has not been paid at all. The basis of transaction value is therefore the agreed contractual price. Further, the expression when sold is not meant to indicate the time at which such goods are sold, but is meant to indicate that goods are the subject matter of an agreement of sale. Once this becomes clear, what the learned counse .....

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