Central excise refund - state JAmmu & Kashmir

[varun singla]

I want to discuss about the latest judegment of the tribunal about the central excise refund in the states like jammu and kashmir where the tribunal has held that the central excise duty refund given to the industrial unit is considered their income and tribunal held that industrial units have to give income tax on the central excise refund they are getting .In my view this decision is wrong ,as the department is doing wrong interpretation of the excise duty notification under which refund was given to the industrial units in jammu and kashmir.

AI Summary

Tribunal's decision on excise duty refunds as taxable income in question; participants argue misinterpretation of notification. A participant raised concerns about a tribunal's decision that central excise duty refunds to industrial units in Jammu and Kashmir should be considered taxable income. They argue this interpretation of the excise duty notification is incorrect. Another participant agrees, stating that the exemption granted to these units should not be equated with income from other sources, as it differs from duty drawback, DEPB, or export promotion schemes. Both participants believe the tribunal's decision misinterprets the nature of the refund.