2009 (4) TMI 168

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..... manufacturing expenses (PME) under various heads out of which 4.58% was claimed as interest on receivables – held that - As the appellants have not discharged the burden of showing that the interest on receivables was inbuilt into the price charged, it is not deductible from the assessable value. - E/814-815/2001 - 412-413/2009 - Dated:- 13-4-2009 - Ms. Jyoti Balasundaram, Vice-President and Sh .....

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..... it is separately identified and collected from the buyers on the selling price of the goods i.e. in cases where payment is made after the general credit period has expired, such payment would not form part of the assessable value. Based on the above, a show cause notice was issued proposing recovery of Rs. 2,61,679/- for the period from April' 98 to June' 98 and proposing imposition of penalty. T .....

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..... so to Rule 173C wherein assessable value in terms of Section 4 was arrived at after deducting trade discounts and other PME. The above price is the price at which the goods are sold, irrespective of the fact of receipt of payment within the general credit period of 60 days or beyond the above period. Although the Commissioner has rejected the claim for abatement on the ground that the interest amo .....

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