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2009 (9) TMI 600 - CESTAT, BANGALOREDuty based on their cost of production - As per Rule 8 of the Central Excise (Valuation) Rules, 2000, the assessee was required to discharge duty liability on poles manufactured and cleared for captive consumption on 115% of the cost of production till 4-8-2003 and on 110% of the cost of production with effect from 5-8-2003 - assessee short paid the duty - interest on the short paid duty under Section 11AB of the Act – Held that: - duty short payment had occurred owing to the ignorance of the appellants - penalty imposed under Section 11AC of the Act on the appellants affirmed by him is liable to be set aside - demand of interest, Section 11AB of the Act mandates that an assessee shall pay any amount of duty short paid or not paid by it on demand along with applicable interest.
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