Interest on delayed duty fixed under statutory provision, altering applicable interest rate and superseding earlier notification. The Central Government fixes the rate of interest at twenty four percent per annum for delayed payment of central excise duty under the statutory interest provision, superseding a prior notification while preserving actions completed before supersession. The document also records that this notification was later superseded and that the applicable interest rate was subsequently reduced by a later administrative order.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest on delayed duty fixed under statutory provision, altering applicable interest rate and superseding earlier notification.
The Central Government fixes the rate of interest at twenty four percent per annum for delayed payment of central excise duty under the statutory interest provision, superseding a prior notification while preserving actions completed before supersession. The document also records that this notification was later superseded and that the applicable interest rate was subsequently reduced by a later administrative order.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
