https://www.taxtmi.com/caselaws?id=753633 CESTAT Mumbai held that state government tax waiver schemes allowing immediate discharge of deferred sales tax liability at net present value constituted post-sale exemption deductible from transaction value under Central Excise Act, 1944. The tribunal distinguished this from Supreme Court precedent in Super Synotex case, finding the Goa government's modified deferment scheme effectively provided temporary cash flow accommodation rather than additional consideration. The appellant's retention of sales tax with NPV discharge option did not warrant inclusion in assessable value for excise duty computation, as such amounts were excludable under section 4. Appeal allowed, impugned order set aside. en-us Wed, 05 Jun 2024 00:00:00 +0530 Thu, 06 Jun 2024 20:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753633 CESTAT Mumbai held that state government tax waiver schemes allowing immediate discharge of deferred sales tax liability at net present value constituted post-sale exemption deductible from transaction value under Central Excise Act, 1944. The tribunal distinguished this from Supreme Court precedent in Super Synotex case, finding the Goa government's modified deferment scheme effectively provided temporary cash flow accommodation rather than additional consideration. The appellant's retention of sales tax with NPV discharge option did not warrant inclusion in assessable value for excise duty computation, as such amounts were excludable under section 4. Appeal allowed, impugned order set aside. Case-Laws Central Excise Wed, 05 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753633