Central Excise - Valuation - Inclusion of interest in assessable value - Sale of credit through bill discounting facility - Regarding

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....ated 4-5-1988 [From F. No. 6/42/87-CX.1] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise and Customs, New Delhi Subject : Central Excise - Valuation - Inclusion of interest in assessable value - Sale of credit through bill discounting facility - Regarding. I am directed to say that instances have been brought to the notice of the Board wher....

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.... rate of 19.5% to 20% and the customer is also charged extra 20% interest for the number of days exceeding 45. In case of direct sale without routing the bill through bank, the customer is reported to get a cash discount of 4%. Clarification has been sought as to whether the interest charged at the flat rate of 5% of the amount of the bill can be included in the assessable value. 3. The matter ....