https://www.taxtmi.com/caselaws?id=251203 Retained sales tax under a Haryana industrial incentive arrangement formed part of transaction value under the Central Excise Act because the exclusion applies only to tax actually paid or actually payable. The assessee's entitlement certificate showed a tax concession allowing retention of 50% of sales tax collected, not a deferment scheme or capital subsidy, so the retained amount was neither paid to the exchequer nor payable. The duty demand was therefore upheld. Although the duty liability stood, the penalty was set aside because the assessee acted on a bona fide understanding supported by correspondence and earlier Tribunal acceptance, making the punitive element unwarranted. en-us Wed, 03 Sep 2014 00:00:00 +0530 Mon, 27 Jul 2015 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251203 Retained sales tax under a Haryana industrial incentive arrangement formed part of transaction value under the Central Excise Act because the exclusion applies only to tax actually paid or actually payable. The assessee's entitlement certificate showed a tax concession allowing retention of 50% of sales tax collected, not a deferment scheme or capital subsidy, so the retained amount was neither paid to the exchequer nor payable. The duty demand was therefore upheld. Although the duty liability stood, the penalty was set aside because the assessee acted on a bona fide understanding supported by correspondence and earlier Tribunal acceptance, making the punitive element unwarranted. Case-Laws Central Excise Wed, 03 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251203