Rate of Excise duty in case of Supplementary Invoice

[YOGESH MITTAL]

Dear Sir,

We are supplying the automobiles parts to an automobiles co. we had supplied some parts during the time of Oct-2014- 2015 to March-2015, now automobile company has increased & amended the purchase order retrospectively the price of our parts supplied to them from our co.

Now, we have to raise the supplementary invoice due to the rate revision for duty difference but, the rate of excise duty has been change from 12.36% to 12.5% from 01.03.2015.,So if today, I want to raise the Excise invoice what should be the rate of Excise duty i.e 12.36% or 12.5%.

In case we have put the 12.36% on Supplementary invoices than have any interest liability is coming or not.

Pls. give your opinion on the issue with supporting rules, regulation, case law etc.

Regards,

Yogesh Mittal

AI Summary

Excise duty rate applicability tied to date of initial clearance; interest payable on differential duty from original payment date.
Rate of excise duty on a supplementary invoice follows the rate applicable on the date of the initial clearance; differential duty arising from an enhanced invoice price attracts interest payable from the date duty was originally paid until the supplementary invoice is raised, calculated on the additional duty attributable to the increased price.