Disallowance of interest on delayed payment on excise duty or ...

Income Tax

January 22, 2016

Disallowance of interest on delayed payment on excise duty or delayed payment of sales-tax - These are more or less compensatory in nature and cannot be held as any infraction or violation of any law - AT

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Disallowance of interest on delayed payment on excise duty or ...

Income Tax

January 22, 2016

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Interest on the delayed payment of duty - interest on differential duty due to finalization of provisional assessment - prima facie interest is payable - AT

Cross Utilization of CENVAT Credit - wrong utilization of Additional Duty of Excise (T&TA) for the payment of Basic Excise Duty and AED (GOSI) - levy of interest...

Demand for interest on delayed payment of duty - appellant is liable to pay the interest on the differential duty paid through supplementary invoices.

Interest on the delayed payment of cess under Oil Industry (development) Act, 1974 cannot be demanded under the provisions of Central Excise Act and Rules made there under - AT

Interest on delayed payment of differential duty - period of limitation - demand of interest issued after 3 years, hence barred by limitation - AT

Deduction u/s 37(1) - Whether, payment of interest on delayed payment of instalments is penal in nature - Held No - It was simplicitor liability of interest on delayed...

Disallowance of CENVAT Credit - the appellant cannot utilize credit of AED (T&TA) for payment of Basic Excise Duty. - AT

Utilization of Cenvat credit of basic excise duty for payment of National Calamity Contingent Duty (NCCD) - there is no bar in utilization of basic excise duty for payment of NCCD.

Import of Capital goods under EPCG Scheme - non-fulfillment of export obligations -The appellants are liable to pay interest on the delayed payment of customs duty foregone

Delayed payment of duty - Rule 8(3) of central excise rules, 2002 - Appellant is liable for payment of interest on the delayed payment for the disputed period as...

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