https://www.taxtmi.com/caselaws?id=801222 Investment-linked VAT remission under a State industrial incentive scheme is a subsidy, not additional consideration paid by buyers for excisable goods. Where VAT is first determined and then substantially remitted subject to investment, production, entitlement-period and capital-investment conditions, the retained remission does not form part of excise transaction value. Central excise duty and consequential interest on that amount are therefore unsustainable. Extended limitation and an equal penalty are also unavailable where the Department knew of the VAT retention through audit and supplied particulars, with no suppression of facts or intent to evade duty established. en-us Thu, 15 Oct 2026 00:00:00 +0530 Sat, 17 Oct 2026 05:20:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801222 Investment-linked VAT remission under a State industrial incentive scheme is a subsidy, not additional consideration paid by buyers for excisable goods. Where VAT is first determined and then substantially remitted subject to investment, production, entitlement-period and capital-investment conditions, the retained remission does not form part of excise transaction value. Central excise duty and consequential interest on that amount are therefore unsustainable. Extended limitation and an equal penalty are also unavailable where the Department knew of the VAT retention through audit and supplied particulars, with no suppression of facts or intent to evade duty established. Case-Laws Central Excise Thu, 15 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801222