https://www.taxtmi.com/caselaws?id=764413 CESTAT Bangalore dismissed the appeal regarding interest liability on differential duty paid before finalization of provisional assessment under Rule 7(4) of Central Excise Rules, 2002. The tribunal, following Allahabad HC precedent, held that interest is compensatory in nature and arises from the date of goods removal, regardless of when differential duty is paid. Interest serves as compensation for delayed payment of duty due and constitutes a statutory liability that cannot be waived even if differential duty is paid before provisional assessment finalization. en-us Tue, 07 Jan 2025 00:00:00 +0530 Thu, 09 Jan 2025 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764413 CESTAT Bangalore dismissed the appeal regarding interest liability on differential duty paid before finalization of provisional assessment under Rule 7(4) of Central Excise Rules, 2002. The tribunal, following Allahabad HC precedent, held that interest is compensatory in nature and arises from the date of goods removal, regardless of when differential duty is paid. Interest serves as compensation for delayed payment of duty due and constitutes a statutory liability that cannot be waived even if differential duty is paid before provisional assessment finalization. Case-Laws Central Excise Tue, 07 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764413