9911796707
TMI Blog2024 (8) TMI 257X X X X Extracts X X X X X X X X Extracts X X X X ..... xcisable goods with reference to the value which is deemed to be the price at which such goods are ordinarily sold by the assessee to a buyer in the course of wholesale trade where the buyer is not a related person and the price is the sole consideration for the sale. Section 4(4)(d)(ii) states that value in relation to any excisable goods does not include the amount of duty of excise, sales tax and other taxes, if any, payable on such goods and, subject to such rules as may be made, the trade discount, etc., is also to be allowed as a deduction. Following the revenue s proposal of valuation under section 4, after extending the benefit of cum duty price in this matter the duty liability would come down to Rs. 5,42,846/- - in terms of sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation/the cum-duty price. No other issue and contentions will be raised. To cut short delay, parties are directed to appears before the CESTAT, Ahmedabad on 02.05.2024, when a date of hearing will be fixed. Recording the aforesaid, the review petitions are allowed and disposed of in the above terms. Civil Appeal Nos. 10159-10161/2010 will be treated as restored to their original number and disposed of in the aforesaid terms. We clarify that we have not made any comments of the merits of the claims of the petitioner- M/s. Urmin Products Pvt. Ltd. or the respondent CCE, Ahmedabad on the question of quantum of computation/cum-duty price. 2. Shri Abhishek Rastogi, Ld. Advocate with Shri Shailesh Shah, learned Chartered Accountant appearing on b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... court had remanded the present matter to us. 4.1 We find that the Section 4 of the Central Excises Act, 1944 provides for valuation of excisable goods for purposes of charging of duty of excise. Under Section 4(1), the duty of excise is chargeable on any excisable goods with reference to the value which is deemed to be the price at which such goods are ordinarily sold by the assessee to a buyer in the course of wholesale trade where the buyer is not a related person and the price is the sole consideration for the sale. Section 4(4)(d)(ii) states that value in relation to any excisable goods does not include the amount of duty of excise, sales tax and other taxes, if any, payable on such goods and, subject to such rules as may be made, the t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he abatement available. However, following the revenue s proposal of valuation under section 4, after extending the benefit of cum duty price in this matter the duty liability would come down to Rs. 5,42,846/-. The correct method of working out the differential excise duty, if any, payable by the appellant by determining the assessable value under Section 4 of the Central Excise Act is as under : Total amount shown in the invoices issued for the sale of the products in question during the disputed period Rs. 37,89,41,252.82 Less : Discount extended by the appellant for the sale of the product under invoices during the disputed period Rs. 1,59,89,256/- Net amount realized by the Appellant for the sale of the product in question during period ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
