2021 (9) TMI 76

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....ssue involved is that whether the interest is leviable on the differential duty paid subsequent to the removal of the goods where at the time of removal of the goods the price is provisional. 1.2 When the matter was called out none appeared on behalf of the appellant nor any adjournment request from the appellant, therefore, the appeal is taken up for disposal on the basis of records available ....

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....price and subsequently on the enhancement of the price the appellant has paid the differential duty, at the later stage, whether interest is chargeable from the due date taking the date of removal of goods or at the time of payment of differential duty. I find that the issue is no longer in dispute as the same has been settled against the assessee by the Larger Bench of the Hon'ble Supreme Court i....

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.... interpreted. We have already noted that when an assessee in similar circumstances resorts to provisional assessment upon a final determination of the value consequently, the duty and interest dates back to the month "for which" the duty is determined. Duty and interest is not paid with reference to the month in which final assessment is made. In fact, any other interpretation placed on Rule 8 wou....

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....rospectively it will be the price even at the time of removal. The fact that it is known, later cannot detract from the fact, that the later discovered price would not be value at the time of removal. Most significantly, Section 11A and Section 11AB as it stood at the relevant time did not provide read with the rules any other point of time when the amount of duty could be said to be payable and s....