Delay payment interest calculation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 February 2015
Dear Sir,
Excise duty Rs.375250 delay for payment for the month of DEC 2014.out of 375250 Excise duty paid 10.02.2015 Rs.125000. please send me interest amount of excise duty with calculation formula.
Excise duty Rs.375250 delay for payment for the month of DEC 2014.out of 375250 Excise duty paid 10.02.2015 Rs.125000. please send me interest amount of excise duty with calculation formula.
13 February 2015
The due date for payment of excise duty is 5th day of following month.
Part duty paid on 10.2.2015, delayed by 5 days.
Interest=[duty * 0.18 * (DelayDays)]/365
When remaining duty would be paid, the same formula applicable for computation of interest.
Part duty paid on 10.2.2015, delayed by 5 days.
Interest=[duty * 0.18 * (DelayDays)]/365
When remaining duty would be paid, the same formula applicable for computation of interest.
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