https://www.taxtmi.com/caselaws?id=2209 For valuation under section 4(4)(d)(ii), only the actual turnover tax or duty payable under the applicable exemption or concessional notification can be excluded from assessable value; a blanket deduction at the higher tariff rate is impermissible. The Court treated the word "payable" as referring to the real tax liability at the time of removal, so the assessee had to apply the reduced rate where applicable and could not claim a notional 2% deduction. On limitation, once the Department was informed of the two categories of sales, suppression could not be alleged thereafter, and the demand beyond the normal period was time-barred. en-us Thu, 25 Oct 2007 00:00:00 +0530 Mon, 03 Mar 2014 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2209 For valuation under section 4(4)(d)(ii), only the actual turnover tax or duty payable under the applicable exemption or concessional notification can be excluded from assessable value; a blanket deduction at the higher tariff rate is impermissible. The Court treated the word "payable" as referring to the real tax liability at the time of removal, so the assessee had to apply the reduced rate where applicable and could not claim a notional 2% deduction. On limitation, once the Department was informed of the two categories of sales, suppression could not be alleged thereafter, and the demand beyond the normal period was time-barred. Case-Laws Central Excise Thu, 25 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2209