https://www.taxtmi.com/caselaws?id=163373 MODVAT credit availed on goods cannot be deducted from the value used for entry tax under the Karnataka Tax on Entry of Goods Act, 1979. The relevant value is the purchase price paid by the dealer, including transportation and allied charges, because the taxable event is the entry of goods into the local area. MODVAT credit operates only as a post-entry set-off against excise duty on the final product and does not alter the price paid when the goods entered the local area. Valuation rules under the Central Excise Act and the Central Excise (Valuation) Rules do not govern entry tax valuation. The claimed deduction was therefore not allowable. en-us Fri, 30 Jan 2004 00:00:00 +0530 Tue, 01 Apr 2014 15:36:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163373 MODVAT credit availed on goods cannot be deducted from the value used for entry tax under the Karnataka Tax on Entry of Goods Act, 1979. The relevant value is the purchase price paid by the dealer, including transportation and allied charges, because the taxable event is the entry of goods into the local area. MODVAT credit operates only as a post-entry set-off against excise duty on the final product and does not alter the price paid when the goods entered the local area. Valuation rules under the Central Excise Act and the Central Excise (Valuation) Rules do not govern entry tax valuation. The claimed deduction was therefore not allowable. Case-Laws VAT and Sales Tax Fri, 30 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163373