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Learn MoreHeld:
During the period under consideration, section 11D was applicable when the amount was collected from buyers. Since Hero Honda Motors Ltd. was manufacturer and not the buyer of the goods, the appellants were not liable to pay such amount collected. Since amount need not be deposited, interest and penalty was also not leviable.
Comment:
Section 11D was amended through the Finance Act, 2008 and Ss. (1A) has been inserted for plugging such loop-hole in the Central Excise law and therefore, now excess amount received from any person as excise duty needs to be deposited into the Government Treasury.