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2023 (4) TMI 603 - AT - Central ExciseDemand of interest on differential duty - price-escalation clause - whether the Appellants are required to pay interest on the differential duty paid subsequently due to price variation clause or any reason or for that matter if the price is revised for any reason much a later date? - HELD THAT:- Hon’ble Apex Court has discussed the issue at length in the case of M/S. STEEL AUTHORITY OF INDIA LTD. VERSUS COMMISSIONER OF CENTRAL EXCISE, RAIPUR [2019 (5) TMI 657 - SUPREME COURT]. Hon’ble Apex Court has upheld the principle that the duty is payable at the time of removal irrespective of the fact that it is paid subsequently. Accordingly, interest as far as Section 11AB is concerned would be reckoned from the date on which the duty is payable and not from the date of payment of such duty. Thus, nothing survives in the appeal - appeal filed by appellant dismissed.
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