9911796707
TMI Blog2010 (10) TMI 278X X X X Extracts X X X X X X X X Extracts X X X X ..... dent. [Order]. - Heard both sides. The Revenue filed this appeal against the impugned order whereby the Commissioner (Appeals) set aside the demand of interest at the rate of 2% per month in view of Notification 12/2003-C.E. (N.T.), dated 1-3-2003. 2. Brief facts of the case are that the respondents are paying duty on monthly basis. The respondents are required to pay the duty by 5th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er Notification 12/2003-C.E. (N.T.), dated 1-3-2003 for the default period. The Commissioner (Appeals) set aside the demand of interest on the ground that the due date was 31-3-2003 for payment of duty by the respondent and the Notification 12/2003-C.E. (N.T.), dated 1-3-2003 comes into force on 1-4-2003 which is prospective in nature. Therefore, the interest provided under the Notification is not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T.), dated 1-3-2003 is prospective in nature. The said Notification enhanced the rate of interest from 15% P.A. to 2% per month. In the present case, the respondent paid the duty on 16-4-2003. At the rate of payment of duty, the Notification has already come in force and the provisions of Notification are clear on this point. The Notification provides that "if the assessee fails to pay the amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icable. 7. In the present case, the duty has been paid after 1-4-2003 when the Notification 12/2003-C.E. (N.T.), dated 1-3-2003 was in force, so the interest is to be paid as per the provision of the Notification which is in force at the time of payment. In the circumstances, I find the impugned order is not sustainable and hence set aside and the appeal filed by the Revenue is allowed. (Di ..... X X X X Extracts X X X X X X X X Extracts X X X X
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