TMI Blog2007 (12) TMI 82X X X X Extracts X X X X X X X X Extracts X X X X ..... on delayed payment has to be only at the rate of 2% per month that is 24% - E/205/2005 - 1466/2007 - Dated:- 7-12-2007 - Shri P.G. Chacko, Member (J) [Order]. - 1. The appellants are engaged in the manufacture of excisable goods and were following the procedure under Rule 8 of the Central Excise Rules, 2002 during the period of dispute. However, there happened to be delay in payment of d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Petition No. 2942 of 2006. Para 6 of this counter-affidavit reads as under: "6.it is submitted that the Hon'ble Rajasthan High Court, in its Order dated 3-8-2005 in D.B. Civil W.P. No.1192/2005 in the matter of Lucid Colloids Ltd . v. U.O.I., held that the part of Rule 8(3) which provided for charging or interest at the rate of Rs.1,000/- per day is invalid and that consequently, intere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ady paid interest at the rate of 2% per annum on the duty amount which was paid belatedly.. Learned Consultant has produced copies of the relevant challans. It is up to the original authority to verify these documents and be satisfied. 3. In view of the above position, the impugned order demanding interest at the rate of Rs.1,000/- per day is set aside and this appeal is allowed to the extent ..... X X X X Extracts X X X X X X X X Extracts X X X X
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