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2011 (6) TMI 396 - AT - Central ExciseInterest on the delayed payment of duty - Assessee contended that amount which becomes payable after finalisation of assessment cannot be said to be one which was due and payable prior to such finalisation of assessment and as such, classifying the same as short-levy or short-payment cannot arise - since the occasion to pay differential duty arises after finalization of the assessment, question of imposition of interest on such amount cannot arise - Held that:-The provision of law nowhere specifies such Rules shall restrict the levy of interest for the period consequent to finalization of the assessement. Rather it specifies that the Rules may provide for interest on the differential amount of duty becoming payable consequent upon the finalization of assessment. The expression becoming payable would obviously relate to the date on which the duty was required to be paid. Merely because the differential amount of duty is ascertained consequent to the finalization of assessment, the due date for payment of such amount never stands changed or extended. It would always relate to the date of removal of the goods thereof. Interest liability would commence from the month succeeding the day on which the duty was due and payable in relation to the goods cleared - Decided against the Revenue.
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