ORDER
U.L. Bhat, J. (President)
1. Appellant, engaged in the manufacture of soap filed Price List Nos. 2, 3, 4 and 5, all of 1987 claiming various deductions. The Assistant Collector disallowed deduction of interest on receivables and annual trade discount. The Collector (Appeals) confirmed the disallowance of the annual trade discount, set aside disallowance of deduction of interest on receivables and remanded the case for decision on the question of deductibility of interest on receivables. This order was passed in view of the Supreme Court recalling the judgment in the earlier MRF Ltd. case [1987 (27) E.L.T. 553 (S.C.)]. The order is being challenged in relation to the annual trade discount.
2. According to the appellant, every dealer is given a trade discount at the rate of 50 paise per carton of 12 kg. of soap, the quantum being calculated and paid after the end of the year. The Assistant Collector agreed that this is one of the sale conditions noted on the reverse of the invoices. That being so, the existence of this discount was known to the dealers at the time of clearance. We, therefore, find that the annual discount in this case should be deducted from the assessable value. To this extent the order passed by the Collector (Appeals) is set aside.
3. The appeal is allowed as indicated.