No Interest on Belated Excise Duty Where Credit Offsets Revenue Loss: Calcutta HC

Commissioner of Central Excise Bolpur Commissionerate Vs Steel Authority of India Limited (Calcutta High Court) Calcutta High Court considered an appeal filed by the revenue against a composite order dated 15 September 2023 passed by the Customs, Excise and Service Tax Appellate Tribunal. The Tribunal had held that no interest was payable on a confirmed central excise duty demand due to revenue neutrality, while simultaneously rejecting the assessee’s refund claim. The respondent assessee is a manufacturer of excisable iron and steel products under Chapters 72, 73 and 86 of the Central Exci...