L KANAGARAJ (Assistant Manager-Finance) (615 Points)
09 February 2009Sirs,
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.
L KANAGARAJ
(Assistant Manager-Finance)
(615 Points)
Replied 10 February 2009
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.
HS Negi
(Senior Executive- F&A)
(590 Points)
Replied 10 February 2009
L KANAGARAJ
(Assistant Manager-Finance)
(615 Points)
Replied 10 February 2009
| 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.
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 10 February 2009
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.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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