https://www.taxtmi.com/caselaws?id=263138 The court held that interest is compensatory and imposed on the assessed amount withheld. The term "levied" includes the entire taxation process. Interest is charged on the differential duty upon final assessment, as per Section 37(1)(ibb) of the Act and Rule 7 of the Rules. The court ruled that interest is payable on the differential duty, regardless of when it is paid, starting from the month following determination. The appeal was dismissed, affirming the imposition of interest on the differential duty even if paid before final assessment, in line with Rule 7(4) of the 2002 Rules. en-us Fri, 21 Aug 2015 00:00:00 +0530 Tue, 13 Oct 2015 11:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263138 The court held that interest is compensatory and imposed on the assessed amount withheld. The term "levied" includes the entire taxation process. Interest is charged on the differential duty upon final assessment, as per Section 37(1)(ibb) of the Act and Rule 7 of the Rules. The court ruled that interest is payable on the differential duty, regardless of when it is paid, starting from the month following determination. The appeal was dismissed, affirming the imposition of interest on the differential duty even if paid before final assessment, in line with Rule 7(4) of the 2002 Rules. Case-Laws Central Excise Fri, 21 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263138