https://www.taxtmi.com/forum/issue?id=110154 Applicability of penal interest under Rule 8(3A) is contested where a manufacturer pays invoiced duty during the year, obtains a cost audit certificate at year end and pays differential excise duty with interest. If the Department has accepted or been informed of this practice (or the assessee adopts provisional assessment), penal interest ordinarily does not apply; absent such intimation or acceptance the lapse is procedural and may attract penalty consequences. No authoritative circular was cited; the advised course is to obtain departmental acceptance or opt for provisional assessment for future transactions. en-us Thu, 07 Apr 2016 12:29:15 +0530 Thu, 23 Jan 2025 15:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=110154 Applicability of penal interest under Rule 8(3A) is contested where a manufacturer pays invoiced duty during the year, obtains a cost audit certificate at year end and pays differential excise duty with interest. If the Department has accepted or been informed of this practice (or the assessee adopts provisional assessment), penal interest ordinarily does not apply; absent such intimation or acceptance the lapse is procedural and may attract penalty consequences. No authoritative circular was cited; the advised course is to obtain departmental acceptance or opt for provisional assessment for future transactions. Discussion-Forum Central Excise Thu, 07 Apr 2016 12:29:15 +0530 https://www.taxtmi.com/forum/issue?id=110154