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2013 (10) TMI 54 - HC - Central ExciseRate of Interest –The assessee defaulted on three occasions in payment of duty due and eventually paid the amount along with interest at the rate of 15% in terms of Rule 8(3) of the Central Excise Rules, 2002 read with Notification No. 19/2002-C.E. – Held that:- The Commissioner (Appeals) and the CESTAT held that the rate of interest prevailing as on the date of default will be taken and that the new rate introduced by the amendment to Rule issued vide the Notification No. 12/2003 and w.e.f 1-4-2003 will be applicable to the defaults which occurred after 1-4-2003 – there was no error of law in the reasoning concurrently arrived at by the Commissioner (Appeals) and the CESTAT warranting consideration of this appeal, since no substantial question of law arises for consideration.
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