Trade discount quantified subsequent to clearance is an admissible deduction from transaction value – HC

CA Urvashi Porwal Brief of the Case In the case of M/s Shyam Steel Industries & Anr. Vs. Deputy Commissioner of Central Excise and Service Tax & Ors, it was held by Calcutta High Court that discount of any type made known prior to the clearance of the goods but quantified subsequently and passed on to the customers is an admissible deduction from the transaction value and as such the assessment for such transactions may be made on a provisional basis. Brief Facts In this writ petition, the petitioner prays for a direction in the nature of mandamus directing the respondents to allow cle...