Rate of interest on delayed payment of duty as applicable during the impugned period - Issues therein
Court :
Hon’ble CESTAT, Chennai
Brief :
The Hon’ble CESTAT, Chennai held as under:
- The Adjudicating Authority had rightly computed the interest amount from the due date till the date of payment in respect of demand for the month of January, 2011, by working out interest at 13% up to March 31, 2011 and thereafter, at increased rate of interest of 18%;
- The Appellant being an EOU regularly filed ER-2 returns and the Department came to know about non-payment of duty only from said ER-2 returns, as amount was indicated in column 'duty payable' but column 'duty paid' was left blank. Hence, there was no suppression/intention to evade/mens rea and, therefore, penalty under Section 11AC of the Excise Act was set aside. But, for belated payment of duty, penalty of Rs. 5 lakhs was imposed under Rule 25 of the Excise Rules.
Citation :
Jeevan Diesels & Electricals Ltd. Vs. Commissioner of Central Excise, Pondichery [2016 (68) taxmann.com 325 Chennai – CESTAT]
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Bimal Jain
Published in Excise
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