Interst on Supplimantry Invocie under CST

[MITSUI PRIME ADVANCED]

 

Dear Sir,

 

This is to inform u that as per excise law “Because Rule 5 of Central Excise Rules, 2002 is the governing rule and accordingly , duty 12.36% along with interest from the due date till the date of payment.” And such case  is applicable on VAT ,

or Interest applicable on supplementary invoice under CST Act or VAT Act  because Excise and CST or VAT  both are Indirect tax.

 

Regards

 

Arjun Sachdeva

AI Summary

Interest on supplementary invoice may be statutory but can be deferred until assessment, subject to demand.
Interest on supplementary invoices is generally statutory and ordinarily payable, illustrated by excise rules applying interest from due date to payment; tribunal precedents have excluded interest where price increases were beyond the assessee's control. Under the CST Act and related rules, interest payment may be postponed until assessment, and liability to pay arises if the assessing authority raises a demand.