https://www.taxtmi.com/caselaws?id=370270 VAT remission received under the Rajasthan Investment Promotion Scheme through VAT 37B challans was treated as a statutory credit mechanism for tax already paid, not as consideration from buyers. It therefore did not form part of the assessable value, and the related duty demand failed. On limitation, the record showed no concealment or positive suppression because the tax payment and challan mechanism were disclosed and lawful; the dispute arose from the Department's valuation view. The extended limitation period was therefore unavailable, and the demand, interest, and penalty were set aside. en-us Wed, 05 Sep 2018 00:00:00 +0530 Thu, 15 Nov 2018 07:24:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370270 VAT remission received under the Rajasthan Investment Promotion Scheme through VAT 37B challans was treated as a statutory credit mechanism for tax already paid, not as consideration from buyers. It therefore did not form part of the assessable value, and the related duty demand failed. On limitation, the record showed no concealment or positive suppression because the tax payment and challan mechanism were disclosed and lawful; the dispute arose from the Department's valuation view. The extended limitation period was therefore unavailable, and the demand, interest, and penalty were set aside. Case-Laws Central Excise Wed, 05 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370270