SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
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CESTAT determined specifications, drawings and designs supplied by Company M during request for quotations (RFQ) do not constitute additional consideration for sale under Central Excise Act and Valuation Rules. The Tribunal reasoned that for elements to qualify as consideration under Contract Act, they must be provided at promisor's desire, which wasn't the case here. The documents were merely articulation of Company M's requirements to elicit proposals, not consideration flowing from promisee to promisor. Following precedent in similar cases, CESTAT held such technical documentation supplied free of cost cannot be included in assessable value for excise duty calculation. Appeal allowed with impugned order set aside.
CESTAT determined specifications, drawings and designs supplied by Company M during request for quotations (RFQ) do not constitute additional consideration for sale under Central Excise Act and Valuation Rules. The Tribunal reasoned that for elements to qualify as consideration under Contract Act, they must be provided at promisor's desire, which wasn't the case here. The documents were merely articulation of Company M's requirements to elicit proposals, not consideration flowing from promisee to promisor. Following precedent in similar cases, CESTAT held such technical documentation supplied free of cost cannot be included in assessable value for excise duty calculation. Appeal allowed with impugned order set aside.
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