https://www.taxtmi.com/caselaws?id=122525 Deemed credit was held to remain available where excise duty on cleared goods was paid subsequently rather than at the exact time of removal, because the duty liability had in fact been discharged. The Tribunal applied the principle that, absent any statutory prohibition, the timing of payment alone does not defeat the credit when the underlying duty payment is otherwise admissible. The analysis also noted that goods were initially cleared under the compounded levy regime and later duty was paid on an ad valorem basis after the mistake was realised. On that basis, denial of deemed credit solely for delayed payment was rejected. en-us Thu, 08 Feb 2007 00:00:00 +0530 Tue, 14 Aug 2012 13:18:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122525 Deemed credit was held to remain available where excise duty on cleared goods was paid subsequently rather than at the exact time of removal, because the duty liability had in fact been discharged. The Tribunal applied the principle that, absent any statutory prohibition, the timing of payment alone does not defeat the credit when the underlying duty payment is otherwise admissible. The analysis also noted that goods were initially cleared under the compounded levy regime and later duty was paid on an ad valorem basis after the mistake was realised. On that basis, denial of deemed credit solely for delayed payment was rejected. Case-Laws Central Excise Thu, 08 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122525