Levy of Central Excise duty on interest recovery payment - Board's ruling under Section 37B Order - Clarification reg.

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..... try of Finance (Department of Revenue) Central Board of Excise and Customs, New Delhi Subject : Levy of Central Excise duty on interest recovery payment - Board's ruling under Section 37B Order - Clarification reg. In the case of U.O.I. & Others v. M.R.F. Ltd. & Others, the Hon'ble Supreme Court in its order dated 3-5-1995 has decided that in case of sales where payments are received quite som .....

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..... . The backing for this stand is available in Supreme Court's reasoning for excluding the interest on receivables, viz. such amounts are received subsequent to sale of excisable goods. If the assessees are claiming that such interest costs are inbuilt in the price, they cannot be deducted from the wholesale price because by their very nature these costs would then be part of the price known prior t .....

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