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2015 (10) TMI 764 - AT - Central ExciseDemand of interest - appellant had paid the central excise duty applicable on such additional consideration, but did not pay the appropriate interest, which is relatable to late payment of the central excise duty - Held that:- Central excise duty is leviable on removal of excisable goods from the factory. As per the concept of transaction value, the amount charged over and above the sale price, should also form part of the transaction value, for the purpose of payment of central excise duty, which has been accepted by the appellant in the present case. The fact of receiving of surcharge from its customer, M/s. JSW Steel Ltd. was known to the appellant beforehand, even though the invoice was raised subsequently at the end of the year. Since the additional consideration received on account of surcharge is relatable to the goods removed from the factory on different dates, the appellant was under statutory obligation to discharge the duty liability during the relevant month, during which the goods have been removed from the factory. Since the duty liability has not been discharged within the stipulated period, the appellant is liable to pay interest on such delayed payment of duty, for the reason that interest is compensatory in character, and the recipient of the tax dues is eligible to be compensated in the form of interest, for late receipt of the duty amount. - issue regarding payment of interest is no more res integra and accordingly, I find that there is no infirmity in the impugned order - Decided against assessee.
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