TaxTMI 
TaxTMI 
INTEREST FOR INCREASE IN PRICE WITH RETROSPECTIVE EFFECT
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....NTEREST FOR INCREASE IN PRICE WITH RETROSPECTIVE EFFECT<br> Query (Issue) Started By: - SUPRAKASH MITTRA Dated:- 5-4-2013 Last Reply Date:- 9-4-2013 Central Excise<br>Got 2 Replies<br>Central Excise<b....
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....r>An excisable product is cleared regularly on payment of Central Excise Duty. A memorandum of understanding (MOU) is signed between of buyer & seller on 21/01/2012 wherein the price of the product is....
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.... increased from restrospective effect from 01/04/2011. Differential billing is done for the increased price & central excise duty on the same is paid. The department has raised a demand for interest ....
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....u/s 11A/11AA of central Excise Act,1944. on the differential amount from 01/04/2011 treating the it to be short payment of central excise duty. Is the claim of the department justified as the the in....
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....crease in price is from retrospective effect? Though the Hon'ble Supreme Court in the case of CCE Vs SKF India Ltd. (2009 (7) TMI 6 - SUPREME COURT)= 2009 (239) ELT 385 (SC) held that interest is pay....
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....able. central Excise Act has undergone a lot of changes in this regard after the Yr. 2009. Please give some valuable suggestions in this regard Reply By Pradeep Khatri: The Reply: Yes, you are lia....
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....ble to pay the interest on the price movement upward retrospectively. Reply By Sanjay Sharma: The Reply: Interest is payable in this case there is no run away. Regards, Sanjay Sharma<br> Discussio....
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