Excise Alert | Supreme Court judgment holding differential excise duty not payable on account of retrospective price increase
Dear Reader,
This is to update you on a recent ruling of the Supreme Court in the case of Hitkari Fibres Limited.
In this case, the assessee was supplying non-woven carpets to Maruti Udyog Ltd. On clearance of goods, the assessee paid excise duty on the sale price. The assessee received additional amount on account of retrospective price escalation for the period 1996-97 to 2000-01. The department demanded differential duty from the assessee relying on the decision of Supreme Court in the case of International Auto Limited.
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