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2017 (3) TMI 222 - AT - Central ExciseInterest for delayed payment of duty - time limitation - Held that: - interest chargeable on delayed payment had to be only at the rate of 2% per month or for the matter 24% per annum as notified by the State Government in terms of the Section 11AB, which is between the permissible limits in terms of Section 11AB. Consequently, the demand notices are quashed and interest on delayed payment has to be recomputed only to the extent it is referred to the rate of interest @2% per month or 24% per annum under Rule 8(3) - matter remanded to adjudicating authority for de-novo adjudication - appeal filed by the Revenue before this forum becomes infructuous and is dismissed.
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