2015 (4) TMI 488

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....DER Per: Anil Choudhary: Heard the parties. 2. The admitted fact in appeal are that the appellant was operating under Rule 7 of Central Excise Rules, 2002, for the financial year 2008-09 as per provisional assessment ordered vide memorandum dated 11.09.2009. The appellant cleared the goods and once their books of accounts were closed, filed the total actual cost of production for the peri....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... "The assessee shall be liable to pay interest on any amount payable to Central Government, consequent to order for final assessment under sub-rule (3), at the rate specified by the Central Government by notification issued under Section 11AA or Section 11AB of the Act, from the first day of the month succeeding the month for which such amount is determined, till the date of payment thereof." 3....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t No.1 could not be held liable to pay the interest on the differential duty as the duty amount has been paid prior to the final assessment, especially when provisions of Rule 7 (4) of Central Excise Rules, 2002 read with Section 11AB(2B) of Central Excise Act, 1944, explicitly stipulates that interest is payable on delayed payment of any amount, at the appropriate rates from the first day of the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the Revenue. The appeal is disposed of. No order as to costs." And accordingly, the appellant prays for setting aside of the impugned order and allowing of the appeal. 4. The learned A.R., states that as the liability of duty is on monthly basis and payable at end of the month, accordingly, interest has been collected on monthly basis for the short paid tax. He further, relies on the ruling....