Supreme Court of India
Retained amount of Sales Tax will form part of the transaction value for the purpose of levy Excise Duty.
Retained amount of Sales Tax will form part of the transaction value for the purpose of levy Excise Duty.
COMMISSIONER OF CENTRAL EXCISE, DELHI-III
Vs
M/s MARUTI SUZUKI INDIA LTD
3rd September, 2014Vs
M/s MARUTI SUZUKI INDIA LTD
Held- There is no doubt that 50% of the sales tax collected was retained by the assessee and was not actually paid to the exchequer nor was it actually payable since the HPC permitted the assessee to retain that amount Therefore, whichever way the issue is looked at, the fact remains that the assessee retained with it 50% of the sales tax collected from its customers and it was neither actually paid to the exchequer nor was it actually payable to the exchequer. That being the position, the transaction value was required to be calculated by including the amount of about Rs . 22.44 crores retained by the assessee.
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