https://www.taxtmi.com/caselaws?id=341251 Amounts recovered from a buyer for reduced lifting or curtailed production, described as debit-note recoveries, are treated as compensation or liquidated damages rather than additional consideration for excisable goods, so they are not includible in assessable value and Rule 6 of the Central Excise Valuation Rules does not apply on those facts. Credit reversal is not required where unused inputs remain in the factory, are not written off, and are used in the manufacture of other goods. A director's penalty is not sustainable absent a specific role or distinct culpable violation, particularly where the dispute turns on valuation and input-credit interpretation. en-us Fri, 31 Mar 2017 00:00:00 +0530 Thu, 04 Jan 2018 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341251 Amounts recovered from a buyer for reduced lifting or curtailed production, described as debit-note recoveries, are treated as compensation or liquidated damages rather than additional consideration for excisable goods, so they are not includible in assessable value and Rule 6 of the Central Excise Valuation Rules does not apply on those facts. Credit reversal is not required where unused inputs remain in the factory, are not written off, and are used in the manufacture of other goods. A director's penalty is not sustainable absent a specific role or distinct culpable violation, particularly where the dispute turns on valuation and input-credit interpretation. Case-Laws Central Excise Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341251