Interest on credit sales not part of excise duty price per CEGAT, following SC ruling.

The Appellate Tribunal CEGAT ruled that interest received on goods sold on credit does not form part of the price for excise duty, allowing the appeal based on a Supreme Court decision in VST Industries Ltd. v. CCE, Hyderabad.

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The Appellate Tribunal CEGAT, New Delhi, in the case represented by Shri P.K. Jain, SDR for the Appellant, ruled that interest received on goods sold on credit does not form part of the price for excise duty. The appeal was allowed based on the Supreme Court decision in VST Industries Ltd. v. CCE, Hyderabad - 1998 (97) E.L.T. 395 (S.C.).

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