Determination of the value of the excisable goods for the purposes of charging central Excise Duty in respect of industrial units located in Jammu & Kashmir and availing VAT remission vide SRO 91 dated 16.03.05.

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....l units located in Jammu & Kashmir and availing VAT remission vide SRO 91 dated 16.03.05. Circular No 880/18/2008-CX 22nd December 2008 F.NO. 6/12/2008 - CX 1 Government Of India Ministry Of Finance Department Of Revenue Central Board of Excise & Customs Sub: Determination of the value of the excisable goods for the purposes of charging central Excise Duty in respect of industrial units lo....

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....industrial unit shall not be entitled to any tax remission. Following examples given in SRO 91 make the scheme of remission clear: In the case mentioned below at "a" there shall be no remission of tax and in respect of case mentioned at "b", there shall be remission of Tax. a. No remission of Tax Qty Description of goods Unit price Value (Rs.) VAT Rate Amount of VAT (Rs.) 1 Transformer ....

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....case, there is no remission of VAT by the state, and transaction value inclusive of excise duty, for determination of the excise duty is Rs 10,000. In case mentioned at 'b', the assessee has determined the assessable value taking transaction value as Rs 10,000, because for the said transaction he gets Rs 10,000 from the customer inclusive of a notional amount of Rs 384.6 as VAT. However this VAT i....