TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Excise Duty: Sales Tax Incentives Affecting Assessable Value Clarified by Ministry, Aligns with Section 4(4)(d)(ii) of Central Excise Act.</h1> The circular addresses the determination of assessable value for excise duty when state governments provide sales tax incentives to manufacturers. It outlines three scenarios: exemption from sales tax, deferment of sales tax payment, and incentives equivalent to sales tax payable. In the first scenario, sales tax is not deductible as it is not payable. In the second and third scenarios, sales tax is considered payable, thus deductible from the wholesale price for excise duty assessment. The Ministry of Law's advice, accepted by the Board, confirms these deductions align with Section 4(4)(d)(ii) of the Central Excise Act, 1944.
TaxTMI 
TaxTMI 
