2013 (10) TMI 54

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..... .E. – Held that:- The Commissioner (Appeals) and the CESTAT held that the rate of interest prevailing as on the date of default will be taken and that the new rate introduced by the amendment to Rule issued vide the Notification No. 12/2003 and w.e.f 1-4-2003 will be applicable to the defaults which occurred after 1-4-2003 – there was no error of law in the reasoning concurrently arrived at by the .....

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..... nd eventually paid the amount in December, 2003, January, 2004, February, 2004 and March, 2004 along with interest of Rs. 64,17,534/- at the rate of 15% in terms of Rule 8(3) of the Central Excise Rules, 2002 read with Notification No. 19/2002-C.E., dated 13-5-2002. 3. The Revenue however proceeded against the assessee on the ground that after 1-3-2003, by Notification No. 12/2003, dated 1-3-200 .....

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