Extended Period of Limitation not Invocable on Non-Inclusion of VAT in Assessable Value: CESTAT sets aside Duty Demand Order [Read Order]
The Tribunal observed that due to the ambiguity in law and the circulars issued by the Central Board of Excise and Customs (CBEC), it was reasonable for the appellant to act under a bona fide belief to not include VAT in assessable value
By Varda Marakkar - On September 30, 2024 11:23 am - 2 mins read
Recently in a ruling, the Customs, Excise, and Service Tax Appellate Tribunal ( CESTAT ), Kolkata, set aside a duty demand order against an assessee concerning the non-inclusion of Value Added Tax ( VAT ) in the assessable value for excise duty calculation. The Tribunal held that the extended period of limitation was not invocable…
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