Sirs,
If we made the Supplementry Invoice on 01.02.09, for the material supplied from Oct.'08 to Jan.'09.
Whether we have to pay the Interest for the Excise Duty Value of the Supplementry Invoice.
Kindly explain me.
Menu
Interest on Supplementry Invoice value
Replies (5)
No interest is payable.
Sir, this supplementry Invoice belongs to Price Increase for the material supplied from Oct.'08 to Jan.'09.
Because somebody told we have to pay monthwise Interest for the Excise Duty value .
Kindly explain me.
Dear L KANAGARAJ
I admits with Rajesh Sir. There is no need to pay interest on it .The liability of excise duty of a assessee when a invoice generated.
Regards
Harendra Singh Negi
| Originally posted by :Harendra Singh Negi | ||
| " | Dear L KANAGARAJ I admits with Rajesh Sir. There is no need to pay interest on it .The liability of excise duty of a assessee when a invoice generated. Regards Harendra Singh Negi |
" |
Thanx to all.
The issue has been settled in Tribunal judgment in case of Motherson Sumi [2005 (192) ELT 402], CCE v. Kalyani Forge [2007 (216) ELT 104], CCE v. DK electrical [2007 (215) ELT 208] and numerous other cases.
There is a departmental circular to the opposite effect [MF (DR) letter 574/CE/5/Misc/2003 dated 28.07.2003], however the departmental circular is not binding on the assessee or on the adjudicating authority.
Recent Topics :
- IPO application checklist: 18 rules that decide wh
- NSE IPO Price, GMP, Allotment Date and Listing
- Gst tax rate
- Cash deposited by customer
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
Related Topics :
CAclubindia
