https://www.taxtmi.com/caselaws?id=446319 CESTAT Chennai held that debit notes raised after goods clearance cannot form part of transaction value under Section 4 of Central Excise Act. The buyer never accepted the increased price shown in debit notes issued post-sale. Transaction value comprises price actually paid/payable when goods are sold, plus amounts buyer is liable to pay. Since buyer had not agreed to pay cost difference and debit notes were raised subsequent to sale, they cannot constitute transaction value. Excise duty paid was therefore excess, making appellant eligible for refund. Commissioner (Appeals) order set aside, appeal allowed. en-us Wed, 29 Nov 2023 00:00:00 +0530 Thu, 30 Nov 2023 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446319 CESTAT Chennai held that debit notes raised after goods clearance cannot form part of transaction value under Section 4 of Central Excise Act. The buyer never accepted the increased price shown in debit notes issued post-sale. Transaction value comprises price actually paid/payable when goods are sold, plus amounts buyer is liable to pay. Since buyer had not agreed to pay cost difference and debit notes were raised subsequent to sale, they cannot constitute transaction value. Excise duty paid was therefore excess, making appellant eligible for refund. Commissioner (Appeals) order set aside, appeal allowed. Case-Laws Central Excise Wed, 29 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446319