TaxTMI 
TaxTMI 
2018 (7) TMI 1210
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....e Respondent(s): Sh. N.K. Sharma, Advocate ORDER Per : Ashok Jindal The Revenue is in appeal against the impugned orders. 2. Brief facts of the case are that the respondent is manufacturing LED lights on job work basis and supplies the same to the M/s Philips Electronics Ltd. The principal manufacturer supplies moulds and dies to the respondent free of cost and the respondent after manufacturi....
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....spondent to demand duty on amortized cost on moulds and die supplied free of cost to the respondent along with interest and to impose penalties. The matter was adjudicated and the demand of duty was confirmed along with interest and penalties were also imposed. Those orders were challenged before the Ld. Commissioner (Appeals), who examined the issue and hold that the respondent has paid duty on a....
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....nbsp; 6. On going through the said invoice, we find that the respondent has paid the duty on the assessable value i.e. Rs. 39168/- (cost) + Rs. 3917/- (10% of cost) + Rs. 2550/- (amortized cost). The duty on these amounts works out to Rs. 7302/-. Thereafter, the respondent has deducted the amortization charges not to be recovered from the buyer. From the invoice, i....
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....tanding of the concept of "assessable value" or "amount recovered from the buyer". In fact, the duty is payable on assessable value whereas the Revenue has misunderstood the amount recovered is assessable value. The Ld. Commissioner (Appeals) has examined the issue. If the committee of Commissioners, who had recommended to file appeals against the impugned order, have seen the invoices and analyze....