https://www.taxtmi.com/caselaws?id=763151 Sales tax remitted under the Incentive Scheme 2001 for economic development of Kutch District was treated as a capital-linked remission, not an outright tax exemption, and therefore was not includible in the transaction value for central excise valuation. The Tribunal applied the test under the Central Excise Act that only amounts actually paid or actually payable at the time of removal form part of assessable value, and noted the Gujarat VAT framework separately recognises exemption and remission while deeming remitted tax as paid to the treasury. On that basis, the remitted sales tax could not be added to the assessable value, the demand failed, and the appeals were allowed. en-us Tue, 03 Dec 2024 00:00:00 +0530 Fri, 13 Dec 2024 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763151 Sales tax remitted under the Incentive Scheme 2001 for economic development of Kutch District was treated as a capital-linked remission, not an outright tax exemption, and therefore was not includible in the transaction value for central excise valuation. The Tribunal applied the test under the Central Excise Act that only amounts actually paid or actually payable at the time of removal form part of assessable value, and noted the Gujarat VAT framework separately recognises exemption and remission while deeming remitted tax as paid to the treasury. On that basis, the remitted sales tax could not be added to the assessable value, the demand failed, and the appeals were allowed. Case-Laws Central Excise Tue, 03 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763151