https://www.taxtmi.com/caselaws?id=40563 Under the valuation notification for patent and proprietary medicines, the element of excise duty, if added to the retail price, had to be deducted first and only then could the 25% discount be applied in computing assessable value. The explanation to the notification controlled the computation, and this approach was treated as consistent with the statutory concept of value excluding excise duty and trade discount. A deduction towards sales tax was not admissible because sales tax had not been separately charged or paid on the admitted facts. The excise assessment challenge therefore failed. en-us Tue, 22 Aug 1978 00:00:00 +0530 Mon, 10 May 2010 15:43:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40563 Under the valuation notification for patent and proprietary medicines, the element of excise duty, if added to the retail price, had to be deducted first and only then could the 25% discount be applied in computing assessable value. The explanation to the notification controlled the computation, and this approach was treated as consistent with the statutory concept of value excluding excise duty and trade discount. A deduction towards sales tax was not admissible because sales tax had not been separately charged or paid on the admitted facts. The excise assessment challenge therefore failed. Case-Laws Central Excise Tue, 22 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40563