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2014 (2) TMI 777 - AT - Central ExciseInterest on delayed payment - Rule 20 of CER, 2002 - Warehousing provisions - Whether the appellants are required to pay interest on this delayed payment of duty or not - Held that:- there being no Circular issued by the Board, specifying any interest rate, as envisaged in Rule 20(2), the interest cannot be confirmed against them in terms of Section 11AB. The said Rule is a complete code in itself and provides facility for warehousing, subject to the condition including interest, specified by the Board. Inasmuch as the Board has only specified the recovery of duty of excise, no interest can be demanded from them - Matter remanded back - Decided in favour of assessee.
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