2014 (6) TMI 341

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....p;    Whether difference between transit insurance recovered from buyers and insurance paid shall from part of assessable value? (3)     Whether interest paid to financial institutions against bill discount shall form part of assessable value? (4)     Whether Turnover tax shall be admissible for deduction from assessable value? (5)     Whether the assets write off calls for reversal of Cenvat credit of the entire amount earlier available on assumption? (6)     Whether Cenvat credit on First-aid Kit is available? 2.1 Learned Counsel on behalf of the appellant submits that reimbursement of part of the advertisement cost incurred ....

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....rance from buyers for such payment, learned Counsel says that what that was paid on such account has formed part of assessable value irrespective of amount collected because the excess collection does not form part of assessable value under law. 3.2 Reverse is the stand of Revenue submitting that what that is collected is to be added to the assessable value. 3.3 Contention of Revenue is not applicable for the reason that cost which makes the goods movable from factory is to only form part of the assessable value of goods cleared. Therefore, excess if any remains after payment of transit insurance is beyond scope of Central Excise Act, 1944 to be included in assessable value which may be subject matter of Income-Tax. 4.1&e....

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....icate issued by the Chartered Account showing the turn-over tax liability incurred by the appellant. 5.2 Proposition of the appellant is negated by Revenue on the ground that actual payments not being claimed as deduction the appellant should pay duty on this count. 5.3 Adjudication finding does not show whether there was discrepancy between average tax incidence paid and actual tax liability payable was examined by the authorities below. So also the modus operandi followed by the appellant was not examined to find out the truth. Therefore, making finding by Tribunal at this stage is premature. Hence, this aspect is remanded to the learned Adjudicating Authority to examine the reconciliation submitted by the appellant and tr....