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Interest on Supplementary on Volume Base Transaction.

Central Excise - Started By: - Santosh Mali - Dated:- 25-3-2016 Last Replied Date:- 25-3-2016 - Dear All,Interest to be paid on supplementary invoice for rate difference is known. but if supplementary invoice prepared for volume base transaction then also is it payable? e.g. If our customer gives me assurance for 50000 parts will be purchased every year and quotation of ₹ 10 given by us as per his assurance and a clause is mentioned in agreement that if he fails purchase less than 50000 qt .....

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₹ 400000 for the goods supplied by you. If your customer does not want to lift the remaining 10000 pieces then you will charge differential price @ ₹ 2/- per piece. In that case you will raise supplementary invoice for ₹ 80000/- When you pay duty on ₹ 80000/- you have to pay interest 0n the differential duty collected by you. In the case of COMMISSIONER OF CENTRAL EXCISE, PUNE Versus SKF INDIA LTD.[2009 (239) E.L.T. 385 (S.C.)] = 2009 (7) TMI 6 - SUPREME COURT .....

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