CENEX UPDATE - 11.05.2020

CX - Valuation - subsidy disbursed to assessee through vouchers in Form 37B & which is utilised for discharing VAT or Sales Tax liability, is not to be included in transaction value: CESTAT ST - Reversal of CENVAT credit before issue of SCN renders taking of credit to have been erased ab initio - no interest, no penalty: CESTAT Cus - After actual sale price concept was introduced in year 2007 on basis of GATT guidelines and s.14 was amended, any inclusion of notional commission seems to have lost its relevance: CESTAT