https://www.taxtmi.com/caselaws?id=53893 Under excise valuation rules, turnover tax can be deducted from assessable value only if it is actually paid or legally payable. Where the unit was exempt from turnover tax at the relevant time, no such liability existed in law, so amounts recovered from customers could not be excluded as a deductible tax component. Reliance on valuation rules did not change the statutory requirement that the levy be payable. The stated position is that an exempt and non-payable turnover tax is not deductible in computing central excise duty. en-us Fri, 11 Feb 2005 00:00:00 +0530 Fri, 15 Oct 2010 17:15:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53893 Under excise valuation rules, turnover tax can be deducted from assessable value only if it is actually paid or legally payable. Where the unit was exempt from turnover tax at the relevant time, no such liability existed in law, so amounts recovered from customers could not be excluded as a deductible tax component. Reliance on valuation rules did not change the statutory requirement that the levy be payable. The stated position is that an exempt and non-payable turnover tax is not deductible in computing central excise duty. Case-Laws Central Excise Fri, 11 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53893