TaxTMI 
TaxTMI 
2002 (12) TMI 343
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....[Order]. - The above captioned appeals have been preferred by the Revenue against a part of the impugned order dated 8-5-2002 of the Commissioner (Appeals) vide which he had allowed the deemed Modvat credit of various amounts to the respondents, as detailed therein. Since the issue involved in all these appeals is common, these can be disposed of by one order. 2. In all these appeals, the ....
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....d they had taken the Modvat credit accordingly. 4. The Commissioner (Appeals) had rejected the plea of the Revenue and accepted that of the respondents and allowed the deemed Modvat credit of various amounts to the respondents. 4. The learned SDR has reiterated the plea of the Revenue, as detailed above, and contended that the freight, insurance, sales tax and other charges could not f....
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....made directly by the manufacturer of the final products to the manufacturer of the said inputs [by cheque drawn on his own bank account or by bank draft or by banker's cheque.]" 5.  The Board has also clarified the invoice price for the purpose of allowing the deemed Modvat credit, vide Circular No. 331/47/97-CX, dated 30-8-1997. Para 4(h) of the said Circular is extracted below - Para 4(h)....
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....e of the inputs including the tax, freight, handling charges, insurance etc., is admissible to the assessee as total price inclusive of all the charges had been paid by the assessee to the manufacturer. After adding all these charges, the total sale price of the goods is invariably worked out by the manufacturer and as such that price has to be taken to be the invoice price for the purpose of allo....