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2007 (12) TMI 96 - CESTAT, BANGALOREDefault in payment of duty in year 2002 - During that period the rate of interest prevailing was only 15% as per not. 19/02 - respondent paid the actual duty after 1-3-2003 when the rate of interest changed – held that rate prevailing only at the time of default should be taken - second Notification 12/2003 dated 1-3-2003 will be applicable only for the default which occurred after 1-3-2003 – Not. 19/02 dated 13.5.02 providing rate of interest @ 15 % is applicable in present case
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