2009 (7) TMI 1102

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....lant. Shri N.A. Sayeed, JDR, for the Respondent. ORDER This stay petition is against the operation of impugned order confirming the duty of Rs. 1,87,657/- alongwith interest and equivalent amount of penalty in the order-in-original against the applicant. 2. The issue involved is whether the applicant is liable to pay duty on the transaction value as per the provisions of Section 4(3)(d....

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....ovember 2002 providing further incentive for pre-mature repayment of sales tax liability. 4. On scrutiny of the financial records of the applicant, it was revealed that the applicant has received an abatement of Rs. 11,49,856/- on account of pre-mature repayment of Sales Tax liability accrued during the year 2004-05 at Net Present Value (NPV). The difference between the actual sales tax collect....

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....s only due to the account of pre-mature payment of sales tax. In other words, if the applicant has not opted for availment of benefit of the said scheme of the Government of Maharashtra, the applicant had to deposit the full sales tax collected by him. 7. On the other hand, the ld. JDR argued that this abatement of sales tax confirms the part of transaction value and the applicant is having the....