9911796707
TMI Blog1998 (1) TMI 175X X X X Extracts X X X X X X X X Extracts X X X X ..... t]. The dispute in this appeal arises on two price lists referred to in the order-in-original passed by the Assistant Collector of Central Excise, Kanpur. The price lists were filed with reference to Detergent Washing Powder - Nirma Brand. The price declared was Rs. 7.10 per kg. Note (2) indicated that the above price was applicable for payment made against delivery. Note (3) indicated that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s made within 20 days there would be refund of proportionate interest. However, according to the department, the interest element for first 20 days is deliberately included in the price subject to the liability to return it if, under the contract, interest did not actually accrue. If payment is delayed beyond 20 days, appellant would charge interest @ 17%. The question is whether interest element ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e price, he is entitled to refund of proportionate interest. This method of collecting advance interest was adopted, evidently to safeguard against difficulties in collection of interest subsequently but subject to liability to refund interest in case there is no delay. The principle laid down in MRF Ltd. case 1995 (77) E.L.T. 433 (S.C.) is squarely applicable to all instances where interest is li ..... X X X X Extracts X X X X X X X X Extracts X X X X
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