2016 (4) TMI 927 - SCH - Central Excise

Transit insurance part of transaction value under Central Excise Act

The Supreme Court held that transit insurance should be included in the transaction value under Section 4 of the Central Excise Act, 1944. The Customs, ... Valuation - Whether transit insurance is to be included while arriving at transaction value under Section 4 of Central Excise Act, 1944 - Tribunal decided the matter in the favour of revenue by including it in the transaction value reported in [2007 (7) TMI 57 - CESTAT, AHMEDABAD] as assessee failed to produce invoices but assessee submitted that these invoices were placed on record before the Commissioner as well as the CESTAT - Apex Court remitted the matter back to Tribunal for fresh consideration The Supreme Court decided on transit insurance inclusion in transaction value under Section 4 of the Central Excise Act, 1944. The case covered the period from February 1999 to June 2005. The Customs, Excise and Service Tax Appellate Tribunal's decision was set aside, and the case was remitted back for fresh consideration. The appeals were disposed of accordingly.