https://www.taxtmi.com/caselaws?id=50240 A statutory benefit obtained under a separate duty exemption or incentive scheme, including advance intermediate licences, was not additional consideration for excise valuation because it did not flow from the buyer to the seller as part of the sale price. The contracts were on a principal-to-principal basis at agreed prices, and the lower sale price merely reflected reduced input cost from duty-free imports. Central excise duty and central sales tax actually paid on clearances were deductible in computing assessable value, and the import-policy refund entitlement did not alter that position. Accordingly, the demand, penalty and interest could not be sustained. en-us Fri, 28 Jul 2000 00:00:00 +0530 Fri, 20 Aug 2010 15:32:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50240 A statutory benefit obtained under a separate duty exemption or incentive scheme, including advance intermediate licences, was not additional consideration for excise valuation because it did not flow from the buyer to the seller as part of the sale price. The contracts were on a principal-to-principal basis at agreed prices, and the lower sale price merely reflected reduced input cost from duty-free imports. Central excise duty and central sales tax actually paid on clearances were deductible in computing assessable value, and the import-policy refund entitlement did not alter that position. Accordingly, the demand, penalty and interest could not be sustained. Case-Laws Central Excise Fri, 28 Jul 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50240