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2017 (8) TMI 997 - AT - Central ExciseInterest - penalty - delayed payment of duty - Held that: - the interest for delay of payment of duty is required to be paid under Section 11AB - the interest is to be calculated @ 24% and accordingly intimated to the appellants. Penalty - Held that: - the appellant failed to discharge monthly payment of duty under Rule 8 of the CCR, 2002. Thus, the entire transaction is duly recorded in the statutory records. It is already stated that due to delay of discharging duty on monthly basis of Rule 8 of the CER, the appellant is liable to pay the duty alongwith interest as indicated above. Hence, there is no requirement to impose penalty under Rule 25 of the Rules. Appeal allowed - decided partly in favor of appellant.
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