https://www.taxtmi.com/caselaws?id=211483 For central excise valuation, sales tax payable at the time and place of removal remains deductible even where the liability arose under a deferment scheme later discharged by payment of net present value under State law. The later statutory option did not change the character or quantum of the tax liability existing when the goods were cleared, and it could not retrospectively reduce the deduction or treat the differential as additional consideration. Board circulars were noted as consistent with this treatment. On that basis, the demand for differential duty, interest, and penalties was unsustainable. en-us Thu, 28 Jul 2011 00:00:00 +0530 Tue, 21 Feb 2012 16:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211483 For central excise valuation, sales tax payable at the time and place of removal remains deductible even where the liability arose under a deferment scheme later discharged by payment of net present value under State law. The later statutory option did not change the character or quantum of the tax liability existing when the goods were cleared, and it could not retrospectively reduce the deduction or treat the differential as additional consideration. Board circulars were noted as consistent with this treatment. On that basis, the demand for differential duty, interest, and penalties was unsustainable. Case-Laws Central Excise Thu, 28 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211483