https://www.taxtmi.com/circulars?id=5495 The circular clarifies that for excise purposes transaction value equals the price actually paid or payable and only taxes actually paid or payable to government are deductible. VAT shown as a price adjustment under the remission scheme in invoices, which is not paid to the government, is not deductible when determining the assessable value for central excise duty. en-us Mon, 22 Dec 2008 00:00:00 +0530 Wed, 14 Jan 2009 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5495 The circular clarifies that for excise purposes transaction value equals the price actually paid or payable and only taxes actually paid or payable to government are deductible. VAT shown as a price adjustment under the remission scheme in invoices, which is not paid to the government, is not deductible when determining the assessable value for central excise duty. Circulars Central Excise Mon, 22 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5495