INTEREST PAYMENT ON SUPPLEMENTARY INVOICE RAISED

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..... INTEREST PAYMENT ON SUPPLEMENTARY INVOICE RAISED
Query (Issue) Started By: - SANDESH SHINDE Dated:- 24-7-2014 Last Reply Date:- 24-7-2014 Central Excise
Got 2 Replies
Central Excise
Dear .....

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..... Sir, Is interest payable on supplementary invoice raised on price revisions with retrospective effect, please clarify with any references regarding this,pls explain, thanks and regards. Reply By Na .....

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..... veed S: The Reply: Yes, interest is payable with retrospective effect on the supplementary invoices raised due to price revisions. Interest would be payable at 18 percent per annum from the date of i .....

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..... ssuing the initial/original invoice. For ready reference on the said issue, refer the Supreme Court of India judgement in the matter of Commissioner of Central Excise, Pune Versus M/s SKF India Ltd. .....

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..... 2009 (7) TMI 6 - SUPREME COURT. Reply By Pradeep Khatri: The Reply: Dear Sandesh, It is settled legal position that interest is payable on the issuance of Supplementary Invoices. Regards, Team YA .....

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..... GAY and SUN (Management and Indirect Tax Consultants)
Discussion Forum - Knowledge Sharing .....

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