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of <h1>Interest on Receivables Deductible Only if Charged Separately from Sale Price, Says Customs Board per Supreme Court Ruling.</h1> The Central Board of Excise and Customs clarifies that interest on receivables cannot be deducted from the assessable value of excisable goods unless the interest is charged separately from the sale price. This clarification follows a Supreme Court ruling in the case of U.O.I. & Others v. M.R.F. Ltd. & Others, which stated that interest charged from the delivery date until payment realization is excludable from the goods' value. The Board emphasizes that interest costs claimed as part of the price cannot be deducted if they are not separately charged, as they are considered part of the pre-sale price.
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