TaxTMI 
TaxTMI 
2016 (5) TMI 1043
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....se is revenue neutral and no interest can be demanded, since the differential duty has been paid. Revenue also filed two appeals against the same impugned orders seeking imposition of penalty which was dropped by the Commissioner (Appeals) in the impugned order. 2. The fact of the case is that M/s. Vidyut Metallics Pvt. Ltd. (assessee) are engaged in the manufacture of excisable goods namely Lanolin and Wax Paper falling under Chapter 34 & 48 of the First Schedule to the Central Excise Act, 1985. The goods were cleared to their own unit for which the valuation is governed by Rule 8 of Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000. According to which the value shall be 110% of the cost of production or m....
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....378 (Tri.-Ahmd.) (iii) The paper Products Ltd. Vs. Commissioner of Central Excise, Vapi-2012-TIOL-1416-CESTAT-AHM (iv) Commissioner of C.Ex., Pune Vs. Coca-Cola India Pvt. Ltd.-2007 (213) E.L.T. 490 (S.C.) (v) Commissioner of C. Ex. & Cus., Vadodara Vs. Narmada Chematur Pharmaceuticals Ltd.-2005 (179) E.L.T 276 (S.C.). As regards Revenue's appeals seeking imposition of penalty he submits that there is no mala fide intention involved in the facts of the case as the assessee was discharging duty under Rule 8 of the Central Excise Valuation (Determination of Price of Excisable Goods) Rules 2000, and obviously differential duty can be known only at a later stage after finalizing of Balance Sheet. Therefore it is no....
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....ioner of Central Excise, Mumbai-III Vs. Vidyut Metallics Ltd.-Order No. A/2397-2399/15/EB dt. 4.8.2015 (viii) Vidyut Metallics Pvt. Ltd. Vs. Commr. of C.Ex. Mumbai-II-2009 (244) E.L.T. 557 (Tri.-Mumbai). 5. I have carefully considered the submissions made by both the sides. The issue to be decided is whether penalty under Rule 25 is imposable and interest under Section 11AB is recoverable on the assessee. I find that the assessable value of their goods is to be determined under Rule 8 of the Central Excise Valuation Rules, 2000, according to which the valuation has to be done on the basis of 110% of the cost of production and the cost of production can be derived on the basis of CAS4. The CAS4 can be made only after completion o....
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....ssued under sub-section (1) is served on him, make payment of the unpaid duty on the basis of his own ascertainment or as ascertained by a Central Excise Officer and inform the Central Excise Officer in writing about the payment made by him and in that event he would not be given the demand notice under sub-section (1). But Explanation 2 to the sub-section makes it expressly clear that such payment would not be exempt from interest chargeable under section 11AB, that is, for the period from the first date of the month succeeding the month in which the duty ought to have been paid till the date of payment of the duty. What is stated in Explanation 2 to sub-section (2B) is reiterated in section 11AB that states where any duty of excise has no....