Any person can avail the benefits of Sabka Vishwas for any issue. The only qualifying criteria is the stage and pendency of case in terms of aforesaid rule. The meaning of ‘case’ under this rule is defined and it says:
Like existing provision of law every taxable person shall self-assess the tax in the Goods and Service Tax regime also. The tax departments dont have direct control over supply of goods or services. The departments through audit conduct verification of accounts, returns and other records related to production, clearance or provision of service.
When we discuss the sources of law, the precedent is one of the most important sources of law apart from the codified law and the law arrives though customs. When the law is not cleared enough through the statute then the role of the precedent came into picture.
The perception of law should as it helps the implementation of law effectively. Law is framed for the assessee in which they will able to pay effortlessly Central Excise duty and follow the all principal of the Central Excise law. If there is any provision which is not clear and silent then the benefit of assessee can not be denied. The main purpose of this article to highlight mistakes, which is being done by the assessee without deliberate intention and consequences thereof.
Law cannot be interpreted broadly. It has to interpret case to case basis. It is very much clear that if the product is being manufactured for ultimate consumer and covered under provision of Legal Metrology Act and Rules, valuation of the goods shall be Under Section 4A of the Central Excise Act. But if the same product is being manufactured as a physician sample and removed for the free distribution, valuation shall not be under Section 4A of the Central Excise Act, 1944, as it is not meant for retail sale.
The judicial precedent always plays vital role to clarify the law particularly when statute is not clear cut in regard to any issue. There is the same situation in the case of demand of interest on delayed payment of Central Excise Duty. The Central Excise Act, 1944 provides provision for recovery of interest under Section 11AA.
