E.I.D. Parry (India) Limited vs Assistant Commissioner Of Commercial ... on 8 October, 2001
In support of the contention that Section 24(3) of the TNGST
Act does not apply, Mr.Prasad relied upon the judgment of the Hon'ble
Supreme Court in EID Parry (India) Limited v. Assistant Commissioner
of Commercial Taxes, (2005) 141 STC 12 (EID Parry). By drawing
reference to paragraph 5 of the said judgment, he submitted that the
question that arose for consideration in that case was whether interest could
be charged under Section 24(3) on the price fixed under Clause 5-A of the
Sugarcane (Control) Order, 1966 (the Sugarcane Order) and/or on the
advance paid along with the monthly return. Upon considering the said
question, the Hon'ble Supreme Court concluded that the price of sugar
cannot be decided at least till the end of the sugar year. Consequently, the
http://www.judis.nic.in
8 of 23
W.P. Nos.34716 to 34719 of 2005
monthly return filed without showing the price fixed under Clause 5 A of
the Sugarcane Order would be neither incorrect nor incomplete. The Hon'ble
Supreme Court further held that self-assessment tax is payable only when
the returns are filed and not prior to such date. On the facts of that case, the
tax was paid along with the returns and prior to assessment. Hence, the
Hon'ble Supreme Court concluded that interest was not payable as per
Section 24(3) of the TNGST Act.