TMI Blog2019 (7) TMI 1777X X X X Extracts X X X X X X X X Extracts X X X X ..... ly admittedly provisional at the time of clearing the goods is finally determined and it is on the said differential value that admittedly that differential duty is paid. We would think that while the principle that the value of the goods at the time of removal is to reign supreme, in a case where the price is provisional and subject to variation and when it is varied retrospectively it will be the price even at the time of removal. The fact that it is known, later cannot detract from the fact, that the later discovered price would not be value at the time of removal. Thus, the appellant is liable to pay interest - Learned Counsel states that the amount of pre-deposit made by them, exceeds the amount of interest payable under Section 11 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion clause, under Section 11AB of the Central Excise Act, 1944. The Larger Bench of the Hon ble Supreme Court considered the following questions for fresh decision: 7. In our view, the following questions will fall to be decided by us: 1) Whether the decision in SKF case and also in International Auto lay down the correct law having regard to the decision of this Court in MRF case which was in fact rendered by a Bench of three Judges. 2) The effect of the judgment in J.K. Synthetics vs. State of Rajasthan as also the other judgements cited before us in regard to demand for interest under fiscal statues. 3) Whether the determination of duty under Section 11A(2) is necessary to sustain the demand for interest under Section 11AB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y is determined. Duty and interest is not paid with reference to the month in which final assessment is made. In fact, any other interpretation placed on Rule 8 would not only be opposed to the plain meaning of the words used but also defeat the clear object underlining the provisions. It may be true that the differential duty becomes crystalised only after the escalation is finalised under the escalation clause but it is not a case where escalation is to have only prospective operation. It is to have retrospective operation admittedly. This means the value of the goods which was only admittedly provisional at the time of clearing the goods is finally determined and it is on the said differential value that admittedly that differential duty ..... X X X X Extracts X X X X X X X X Extracts X X X X
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