Tax Mohalla - Tax by KK

The benefit of ITC / CCR / exemption is available only assesee satisfies the eligibility criteria and for that purpose the provision must be strictly construed. If exemption is available on complying with certain conditions, the conditions have to be mandatorily complied with.  In (2011) [Commissioner of Central Excise v. Hari Chand Gopal], the Hon’ble Supreme Court held as under:-

Fiat was declaring price of their cars (uno models) below the cost of manufacturing for the purpose of excise duty in terms of Section 4(1)(a) of the Excise Act, 1944. Whether Fiat was right in doing so. Background & Facts: 1. The assessees had filed several price declarations in terms of Rule 173C of the Central Excise Rules, 1944 declaring wholesale price of their cars for