Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Subsidy received by the appellant under Rajasthan Investment Promotion Scheme 2010 from the State Government cannot be included in assessable value of goods cleared during 1.4.2016 to 31.03.2017 u/s 4(3)(d) of Central Excise Act. Following latest decision in M/S HARIT POLYTECH PVT. LTD. VERSUS COMMISSIONER, CENTRAL EXCISE & CGST- JAIPUR I and other cases, where subsidy does not reduce sales tax required to be paid by assessee, subsidy amount cannot be included in transaction value for central excise duty levy. VAT amount paid by assessee using VAT 37B challans construed as actual VAT payment, not included in transaction value u/s 4(3)(d). Impugned order set aside. Appeal allowed.
Subsidy received by the appellant under Rajasthan Investment Promotion Scheme 2010 from the State Government cannot be included in assessable value of goods cleared during 1.4.2016 to 31.03.2017 u/s 4(3)(d) of Central Excise Act. Following latest decision in M/S HARIT POLYTECH PVT. LTD. VERSUS COMMISSIONER, CENTRAL EXCISE & CGST- JAIPUR I and other cases, where subsidy does not reduce sales tax required to be paid by assessee, subsidy amount cannot be included in transaction value for central excise duty levy. VAT amount paid by assessee using VAT 37B challans construed as actual VAT payment, not included in transaction value u/s 4(3)(d). Impugned order set aside. Appeal allowed.
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TaxTMI 
TaxTMI 
of 4915 
