2009 (1) TMI 701

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....esh Shah, SDR, for the Respondent. [Order]. -  In view of the Larger Bench decision, the issue stands resolved holding that in case of provisional assessment under Central Excise Rules, 2002 interest is required to be paid from the first day of the month succeeding the month for which such amount is determined and that interest is required to be paid even if the differential amount is p....

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....e Central Excise Rules, 2002. In view of the same interest can be charged for the period March 2002 to December 2003 only and no interest can be charged for the period 1-1-2000 to 28-2-2002. 3. Ld. DR, on the other hand, in his submissions has stated that there were analogous provisions under Central Excise Rules, 2001, where under Rule 7(4) also the liability to pay interest was there and....

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....ri.-LB) where also liability to pay interest in respect of provisional assessment has been upheld. It was submitted that reasoning of the Larger Bench in Bimetal Bearings case would apply to the period involved in the present appeal as provisions of Rule 9(b) were similarly worded. 4. I have considered the submissions. I find that the appellant's only submission is that there was no analog....

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....from the first date of the month succeeding the month for which such amount is determined, till the date of payment thereof." 5. These provisions are totally analogous to the provisions of Rule 7(4) of the Central Excise Rules, 2002 and, therefore, interest will be payable from 1-7-2001 from which date these rules became effective. As regards revenue's plea that interest will be chargeable....