https://www.taxtmi.com/forum/issue?id=107844 Recovery of excise duty is triggered where sales tax retained by a manufacturer under a state incentive scheme forms part of the transaction value. The transaction value definition allows deduction of sales tax only if actually paid or actually payable; retained amounts do not qualify and have been treated as chargeable to excise duty. Judicial precedent and a Board circular cited in the discussion support recovery of duty on the retained portion with interest and possible penalties, while the time-bar question was raised but left unresolved in the replies. en-us Mon, 12 Jan 2015 13:58:06 +0530 Thu, 23 Jan 2025 15:57:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=107844 Recovery of excise duty is triggered where sales tax retained by a manufacturer under a state incentive scheme forms part of the transaction value. The transaction value definition allows deduction of sales tax only if actually paid or actually payable; retained amounts do not qualify and have been treated as chargeable to excise duty. Judicial precedent and a Board circular cited in the discussion support recovery of duty on the retained portion with interest and possible penalties, while the time-bar question was raised but left unresolved in the replies. Discussion-Forum Central Excise Mon, 12 Jan 2015 13:58:06 +0530 https://www.taxtmi.com/forum/issue?id=107844