Surrender of Advance Licence to receive products at lower rate will be treated as additional consideration-SC

Brief of the Case Supreme Court has held in the case of CCE v M/s Indorama Synthetics (I) Ltd. of India held that the surrendering of advance licence in order to receive the products at lower rate will be considered as “additional consideration” under section 4 of Central Excise Act, 1944. Facts of the Case The Assessee is engaged in the manufacture of polyester chips, polyester staple fibre, polyester filament yarn and other goods. The goods were cleared as ‘deemed exports’ to advance licence holders which were at a price lower than what was being charged to the other buye...