Tribunal Rules Initial Duty Assessment Stands Despite Later Price Negotiations on Goods Cleared to Depots.

Tribunal Rules Initial Duty Assessment Stands Despite Later Price Negotiations on Goods Cleared to Depots. https://www.taxtmi.com/highlights?id=76236 Refund of the excess duty paid - whether subsequent negotiation of the prices can be the basis for reopening the assessment? - The Tribunal observed that the appellant cleared goods on stock transfer basis to their depots, adopting the price prevailing at or nearest to the time of sale from the depots. This was done in accordance with Rule 7 of the Central Excise Valuation Rules. Subsequent negotiation of prices did not affect the assessable value already determined and on which duty liability was discharged. The Tribunal cited precedent to support this conclusion. en-us Mon, 01 Apr 2024 19:28:53 +0530 Mon, 01 Apr 2024 19:28:53 +0530 TaxTMI RSS Generator Tribunal Rules Initial Duty Assessment Stands Despite Later Price Negotiations on Goods Cleared to Depots. https://www.taxtmi.com/highlights?id=76236 Refund of the excess duty paid - whether subsequent negotiation of the prices can be the basis for reopening the assessment? - The Tribunal observed that the appellant cleared goods on stock transfer basis to their depots, adopting the price prevailing at or nearest to the time of sale from the depots. This was done in accordance with Rule 7 of the Central Excise Valuation Rules. Subsequent negotiation of prices did not affect the assessable value already determined and on which duty liability was discharged. The Tribunal cited precedent to support this conclusion. Highlights Central Excise Mon, 01 Apr 2024 19:28:53 +0530 https://www.taxtmi.com/highlights?id=76236