https://www.taxtmi.com/caselaws?id=756383 Discounts and VAT remission amounts were held excludable from turnover for computing value addition under the exemption notification, because the discounts and incentives were passed on to buyers in the same year and VAT valuation under Section 4A could not be replaced by the Section 4 transaction value framework for this purpose. The notification required minimum value addition of 36% and allowed fixation of a special rate where the benchmark was exceeded by 115%; on the appellant's own figures, the threshold still appeared to be met after the exclusions. The matter was nevertheless remanded for verification of the correct turnover and fresh determination of value addition and consequential consideration of the request for a special rate. en-us Wed, 31 Jul 2024 00:00:00 +0530 Fri, 02 Aug 2024 08:11:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756383 Discounts and VAT remission amounts were held excludable from turnover for computing value addition under the exemption notification, because the discounts and incentives were passed on to buyers in the same year and VAT valuation under Section 4A could not be replaced by the Section 4 transaction value framework for this purpose. The notification required minimum value addition of 36% and allowed fixation of a special rate where the benchmark was exceeded by 115%; on the appellant's own figures, the threshold still appeared to be met after the exclusions. The matter was nevertheless remanded for verification of the correct turnover and fresh determination of value addition and consequential consideration of the request for a special rate. Case-Laws Central Excise Wed, 31 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756383