https://www.taxtmi.com/caselaws?id=95181 For reversal of Modvat credit under Rule 57CC of the Central Excise Rules, 1944, the relevant base is the price actually charged by the manufacturer, not a gross listed or catalogue price. Where trade discount is allowed and only the net amount is realised from the buyer, that net price constitutes the sale consideration for computing the 8% reversal. The analysis treats discount as outside the charging base because it is not part of the consideration received, and the cited sales tax authorities and Board clarification were relied on in support of that construction. en-us Thu, 14 Sep 2000 00:00:00 +0530 Thu, 08 Dec 2011 15:18:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=95181 For reversal of Modvat credit under Rule 57CC of the Central Excise Rules, 1944, the relevant base is the price actually charged by the manufacturer, not a gross listed or catalogue price. Where trade discount is allowed and only the net amount is realised from the buyer, that net price constitutes the sale consideration for computing the 8% reversal. The analysis treats discount as outside the charging base because it is not part of the consideration received, and the cited sales tax authorities and Board clarification were relied on in support of that construction. Case-Laws Central Excise Thu, 14 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=95181