2017 (5) TMI 1241

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..... burden of duty had not been passed on to their customers - Held that: - In trade transactions, it is normal practice to issue debit notes/credit notes whenever an adjustment has to be made in the amounts specified in invoices pertaining to a transaction. In the present dispute, the existence of debit/credit notes is not in dispute; it is only the acknowledgement of the validity of these notes whi .....

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..... t 8% instead of 4% consequent upon exceeding of turnover of ₹ 1.5 crores, being the threshold exemption limit for small-scale industries as per notification no.5/2006-CE, and relates to invoice no.136/24.0 8.09 to 146/31.0 8.09 with a total value of ₹ 19,61,470/-. 2. In the impugned order, it was held that the entire billed amount had been collected by the appellant from their custo .....

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..... ation to acknowledge credit notes as a proper document for acknowledgement of dues. 4. None appeared for the appellant. Heard the Learned Authorised Representative who urged that the order of the first appellate authority should be sustained. 5. The validity of credit notes/debit notes in inter-institutional transactions appears to be a regular bone of contention between Revenue and assessee .....

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..... uty at the higher rate is not in dispute. The sole ground for refusing the transfer of the claimed amount to the appellant is the finding that the applicant had not discharged its obligation to establish that the burden of duty had not been passed on to their customers. In trade transactions, it is normal practice to issue debit notes/credit notes whenever an adjustment has to be made in the amoun .....

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..... rational for the acknowledgement of the said amount as evidence of having borne the incidence of duty. Consequently, the utilisation of credit cannot also be questioned. 9. In view of the above, the appeal is not without merit. Accordingly, the impugned order is set aside and the decision of the original authority restored. (Pronounced in Court 22/12/2016) - - TaxTMI - TMITax - Centr .....

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