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of <h1>Discounted Advance Payments Accepted as Assessable Value for Excise Duty on PVC Resins, Says CBEC.</h1> The circular addresses the issue of whether a discounted price for advance payments can be accepted as the assessable value under the Central Excises and Salt Act. A specific case involving a unit in Madurai manufacturing PVC Resins was examined, where a discount was provided for payments made before delivery. The Central Board of Excise and Customs concluded that such discounts, not tied to a specific time frame and not compensating for interest loss, are admissible for determining assessable value. This decision overrides previous instructions and should be communicated to all relevant field formations for guidance.
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