Inclusion of interest in assessable value: interest on receivables treated as part of the price and included pending review. Interest charged in bill discounting arrangements-described as delayed payment charges, interest on receivables, or credit charges-constitutes part of the price and must be included in the assessable value of goods. The Department has filed a review petition against a contrary judicial view and instructs assessing officers to raise demands or resort to provisional assessments while keeping them pending until disposal of the review petition, and to inform field formations and trade stakeholders.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Inclusion of interest in assessable value: interest on receivables treated as part of the price and included pending review.
Interest charged in bill discounting arrangements-described as delayed payment charges, interest on receivables, or credit charges-constitutes part of the price and must be included in the assessable value of goods. The Department has filed a review petition against a contrary judicial view and instructs assessing officers to raise demands or resort to provisional assessments while keeping them pending until disposal of the review petition, and to inform field formations and trade stakeholders.
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