https://www.taxtmi.com/caselaws?id=339338 The Tribunal ruled that the appellants were liable to pay interest on the lapsed credit balance of Rs. 2.50 lacs, as per the amended Rule 57F(17) of the Finance Act, 1999. Interest was to be calculated at a rate of 36% per annum from 11.06.1999 to 10.10.2000, in accordance with the Act's provisions. The Tribunal dismissed the plea for a lower interest rate, affirming that the applicable rate was determined by the Finance Act, 1999 and the Central Excise Act, 1944. en-us Fri, 25 Nov 2016 00:00:00 +0530 Mon, 06 Nov 2017 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339338 The Tribunal ruled that the appellants were liable to pay interest on the lapsed credit balance of Rs. 2.50 lacs, as per the amended Rule 57F(17) of the Finance Act, 1999. Interest was to be calculated at a rate of 36% per annum from 11.06.1999 to 10.10.2000, in accordance with the Act's provisions. The Tribunal dismissed the plea for a lower interest rate, affirming that the applicable rate was determined by the Finance Act, 1999 and the Central Excise Act, 1944. Case-Laws Central Excise Fri, 25 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339338