TMI Blog2015 (11) TMI 206X X X X Extracts X X X X X X X X Extracts X X X X ..... and de-escalation clause. The supplementary invoices are raised subsequent to the clearance of the goods only after RBI publication of the price index therefore payment of excise duty is not made at the time of clearance of goods. In all other cases which was relied upon by the Revenue facts are different. Therefore when there are diversion decisions on the issue then in my view the judgment which is based on the identical facts has to prevail. In this position, following the ratio of Hon'ble Karnataka High Court in the case of Bharat Heavy Electricals Ltd. (supra) which has been upheld by the apex court [2010 (12) TMI 1144 - SUPREME COURT], I am of the view that interest on difference arising due to the price escalation as per the RBI pric ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e time of removal of goods. When the RBI publish price index periodically from time to time, therefore subsequent to the supply only, price can be known as and when RBI publish price index and therefore price of the goods cannot be finally fixed at the time of clearance of the goods, for this very reason escalation and de-escalation clause was provided in the contract. On publication of price index if there is variations in price on higher side then the appellant is required to issue supplementary invoices to the railways and at the time of issuance of supplementary invoices differential excise duty is paid. It is his submission that in view of the above undisputed position and nature of supply duty itself become payable as and when price i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (298) ELT 171(Bom.)] (c) Alstom T D India Ltd. Vs. CESTAT [2015(315) ELT 182(Mad.)] 5. I have carefully considered the submissions made by both sides and perused the records. 6. I find that on the issue of demand of interest on delayed payment of duty by way of supplementary invoices. The various judgments have been passed by various Honble High Court and also by Hon ble Supreme Court. On careful reading of these judgments, I find that in case of Bharat Heavy Electricals Ltd. (supra), the facts are absolutely identical to the facts of the present case. As the supply made to the railways and the prices at the time of clearances is not decided due to the reason that the price index which is published periodically and not available o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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