https://www.taxtmi.com/caselaws?id=761066 CESTAT Mumbai allowed the appeal concerning recovery of central excise duty under section 11A of Central Excise Act, 1944. The dispute involved inclusion of difference between amount collected and net present value in assessable value for manufactured goods sold with deferred payment terms. The Tribunal followed precedent from similar automotive parts manufacturer cases, holding that "actually payable" amount at time of clearance was relevant, not "actually paid." The Tribunal ruled that deferral sales tax should be excluded from assessable value, as NPV payment under Maharashtra Government scheme constituted deemed payment without changing quantum of sales tax payable. The impugned order was set aside. en-us Thu, 03 Oct 2024 00:00:00 +0530 Tue, 05 Nov 2024 07:36:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761066 CESTAT Mumbai allowed the appeal concerning recovery of central excise duty under section 11A of Central Excise Act, 1944. The dispute involved inclusion of difference between amount collected and net present value in assessable value for manufactured goods sold with deferred payment terms. The Tribunal followed precedent from similar automotive parts manufacturer cases, holding that "actually payable" amount at time of clearance was relevant, not "actually paid." The Tribunal ruled that deferral sales tax should be excluded from assessable value, as NPV payment under Maharashtra Government scheme constituted deemed payment without changing quantum of sales tax payable. The impugned order was set aside. Case-Laws Central Excise Thu, 03 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761066