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INTEREST PAYMENT ON SUPPLEMENTARY INVOICE RAISED, Central Excise

Issue Id: - 107078
Dated: 24-7-2014
By:- SANDESH SHINDE

INTEREST PAYMENT ON SUPPLEMENTARY INVOICE RAISED


  • Contents

Dear Sir,

Is interest payable on supplementary invoice raised on price revisions with retrospective effect, please clarify with any references regarding this,pls explain, thanks and regards.

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Showing Replies 1 to 2 of 2 Records

Page: 1


1 Dated: 24-7-2014
By:- Naveed S

Yes, interest is payable with retrospective effect on the supplementary invoices raised due to price revisions. Interest would be payable at 18 percent per annum from the date of issuing the initial/original invoice.

For ready reference on the said issue, refer the Supreme Court of India judgement in the matter of Commissioner of Central Excise, Pune Versus M/s SKF India Ltd.  2009 (7) TMI 6 - SUPREME COURT.


2 Dated: 24-7-2014
By:- Pradeep Khatri

Dear Sandesh,

It is settled legal position that interest is payable on the issuance of Supplementary Invoices.

Regards,

Team YAGAY and SUN

(Management and Indirect Tax Consultants)


Page: 1

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