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| CCI resent central excise Deptts refund claims | | | EARLY TIMES REPORT
Jammu , Dec 27
The chamber of commerce & industry (CCI)have made the representation to the Prime Minister of India and the chairman central board of excise and customs for taking the decision on the issue of vat which was being levied by the manufacturers as national and benefit of the such price adjustment was being passed on to the purchasing dealers/ customers. But commissioner central excise and customs J&K did not agree with this and thus disputed the excise refund claims filed by the manufacturing units.
As per release chamber is grateful to the prime minister and chairman central board of excise and customs for the clarification sent vide circular No. 880/18/2008-CX dated 22nd December 2008.
Further the circular no. 354/84/200-TRU dated of June 6 2000 in paras no. 10 and 11 explains that only those taxes which are actrally paid or payable to the concerned governments are deductible for determimation of assessable value. Those amounts which are neithr paid nor payable at a later date cannot be deducted while arriving at the assessable value.
“In view of the its clarified that the VAT element indicated as price adjustment in the invoices in terms of SRO 91 of J&K government and remitted by the state is not to be deducted for determining the assessable value.”
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