2018 (9) TMI 394

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ation for such services was not finalized during 2010-11. They have on their own valued the consideration of approximately Rs. 28.5 Crore in their books in the month of March 2011. In the September 2011, they finalize the value as 28.5 Crore and the same was reflected in their balance sheet. They paid tax on the said amount in the month of November 2011, along with interest. The said transaction was disclosed in the return for the period October 2011 to March 2012. After negotiation with M/s Vodafone India Ltd, the final transaction was record at Rs. 16.91 Crore in the month of March 2012 and therefore, they filed the claim of refund for the duty on difference value estimated in the month of March 2011/ finalized in the month of November 20....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 3. We have gone through rival submission. We find that the appellant are claiming that during 2010-11, the price of the services provided by them was not finalized and no invoices were raised. It has been argued that they have entry an amount Rs. 28,49,43,332 /- on provisional basis in their accounts in the month of March 2011. The said entry was finalized in the balance sheet in the month of November 2011 and duty on the said amount was paid by them along with interest, in the month of November 2011. It has been argued that by the Ld. Counsel that the price was re-negotiated and final invoice was Rs. 16,91,00,000/- and consequently, they are entitled to refund on the differential value. Ld. Counsel has shown the ledger. According to him, ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... can be seen from the ledger of M/s Vodafone India Ltd. If the ledger of M/s Vodafone India Ltd show the corresponding entry to the entry of Rs. 28,49,43,332/- appearing in the balance sheet of the appellant, then it would appear that the price was earlier negotiated at Rs. 28,49,43,332/-and ledger re-negotiated to Rs. 16,91,000,00/-. In these circumstances it would appear that the price of service was revised after the provision of service. In the alternative if any price was fixed and there is no entry corresponding to Rs. 28,49,43,332/- in the book of M/s Vodafone India Ltd, then it would appear that the price was negotiated for the first time at Rs. 16,91,000,00/-. 5. In view of the above observation, it is not clear that if appellan....