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2013 (11) TMI 1390 - AT - Central ExciseInterest on delayed payment under Rule 3 (5) of the Cenvat Credit Rules, 2004 – Held that:- If there is delay in payment of this amount, for whatever reason, interest would be chargeable in terms of the provisions of sub-rule (3) of Rule 8 - if the assessee fails to pay the amount of duty, he shall be liable to pay the outstanding amount along with interest at the specified rate - Interest would be attracted on the outstanding amount for the period starting from the first day after due date till the date of actual payment of the outstanding amount - When the interest on duty payable on the goods cleared in a month including the amount payable under Rule 3(5) of Cenvat Credit Rules, is linked with the period of delay from the due date, the interest would be attracted whenever there is delay – Decided in favour of Revenue.
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