9911796707
TMI Blog2023 (12) TMI 306X X X X Extracts X X X X X X X X Extracts X X X X ..... he Central Board of Indirect Taxes Customs (CBIC) circular no. 354/66/2001-TRU dated 21st June 2021 where it was held that In Rule 7 relating to provisional assessment, provision has also been made for charging of interest or for allowing refund, as the case may be. It may be clarified that these will apply to cases in which provisional assessment is resorted to on or after 1-7-2001 and not to past cases of provisional assessment even if the assessments are finalized on or after 1-7-2001. Furthermore, in another dispute of theirs decided by the Tribunal, in CADBURY INDIA LTD. VERSUS COMMISSIONER OF CENTRAL EXCISE, PUNE-I [ 2009 (1) TMI 701 - CESTAT, MUMBAI ], it was held that interest will be payable from 1-7-2001 from which dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... now remains is the interest payable on the amount that had not been discharged till the completion of adjudication. 2. Learned Counsel for the appellant placed reliance on circular no. 354/66/2001-TRU dated 21st June 2021 of Central Board of Indirect Taxes Customs (CBIC) wherein it has been clarified that 3. .. (iii) In Rule 7 relating to provisional assessment, provision has also been made for charging of interest or for allowing refund, as the case may be. It may be clarified that these will apply to cases in which provisional assessment is resorted to on or after 1-7-2001 and not to past cases of provisional assessment even if the assessments are finalized on or after 1-7-2001. 3. Furthermore, reliance was placed on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Central Excise Rules, 1944, owing to dispute in valuation which came to be decided ultimately by the Hon ble Supreme Court holding that cost of production was to be defined for the purpose in accordance with CAS-4 guidelines. The assessments were thereby finalized on 30th December 2011 and appellant required to pay differential duty for the period amounting to ₹ 4,79,41,410/- as recorded supra and, except for the portion on which disputed interest continues to subsist, the consequential dues had been discharged by them. Though the assessments were rendered as provisional under rule 9B of Central Excise Rules, 1944, the finalization occurred after Central Excise Rules, 2002 came to into effect. 6. We find that that the issue pertain ..... X X X X Extracts X X X X X X X X Extracts X X X X
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