https://www.taxtmi.com/caselaws?id=119728 Interest on delayed duty payment under Rule 8(3) of the Central Excise Rules, 2002 is stated to be chargeable only at two per cent per month, being the rate sustained under the governing notification, and the higher daily rate was set aside for fresh quantification. Penalty under Rule 25 is treated as unavailable where the entire duty had been paid before issuance of the show-cause notice, applying the settled no-penalty principle from the earlier equivalent provision. The net effect recorded is deletion of the penalty and recalculation of interest in accordance with the sustained legal position. en-us Fri, 02 Jun 2006 00:00:00 +0530 Thu, 12 Jul 2012 17:42:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119728 Interest on delayed duty payment under Rule 8(3) of the Central Excise Rules, 2002 is stated to be chargeable only at two per cent per month, being the rate sustained under the governing notification, and the higher daily rate was set aside for fresh quantification. Penalty under Rule 25 is treated as unavailable where the entire duty had been paid before issuance of the show-cause notice, applying the settled no-penalty principle from the earlier equivalent provision. The net effect recorded is deletion of the penalty and recalculation of interest in accordance with the sustained legal position. Case-Laws Central Excise Fri, 02 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119728