https://www.taxtmi.com/caselaws?id=30698 Central Sales Tax collected but not actually remitted was treated as part of the excise assessable value, because deduction is available only for taxes actually payable or legally deductible. The analysis applied the principle in Modipon Fibre Company and noted that the Board circular relied on did not specifically cover Central Sales Tax. It also stated that non-disclosure of such CST collection in returns or otherwise supported invocation of the extended limitation period. The discussion therefore links valuation relief to actual tax liability and disclosure of material facts to the department. en-us Thu, 06 Mar 2008 00:00:00 +0530 Tue, 16 Sep 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30698 Central Sales Tax collected but not actually remitted was treated as part of the excise assessable value, because deduction is available only for taxes actually payable or legally deductible. The analysis applied the principle in Modipon Fibre Company and noted that the Board circular relied on did not specifically cover Central Sales Tax. It also stated that non-disclosure of such CST collection in returns or otherwise supported invocation of the extended limitation period. The discussion therefore links valuation relief to actual tax liability and disclosure of material facts to the department. Case-Laws Central Excise Thu, 06 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30698