Excise duty paid @ 10%
This query is : Resolved
03 September 2012
Please help me in excise. The case is, excise duty is paid at the rate of 10% instead of 12% till now.. Now what is the consequences of it.
As per my knowledge I have to file return & deposit the differential amount.
However ,what will be the interest or penalty.?
As per my knowledge I have to file return & deposit the differential amount.
However ,what will be the interest or penalty.?
04 September 2012
1st of all pay the diff immediately through PLA or GAR7, and submit your intention to R/O that since you have paid the diff of duty which was happened due to clarical mistake, and pray for weiver of interest and penalty if any.
R/O or D/C ( depending on the amount, will accept the application and may ask you to appear for a short hearing, where you can ask for minimum possible interest,
as the principal excise duty is already paid before their scn or any demand, the penalty may not exceed 25% of duty amount., but if you act prompt then you can save full penalty plus remarkable interest.
R/O or D/C ( depending on the amount, will accept the application and may ask you to appear for a short hearing, where you can ask for minimum possible interest,
as the principal excise duty is already paid before their scn or any demand, the penalty may not exceed 25% of duty amount., but if you act prompt then you can save full penalty plus remarkable interest.
Message likes :
1 times
04 September 2012
Thanks a lot . Can you please give me some sort of link or section number where details of penalty & interest is mentioned?
04 September 2012
https://www.vakilno1.com/bareacts/centralexcise/s11ac.htm
Message likes :
1 times
04 September 2012
https://www.lawyersclubindia.com/judiciary/Section-11AC-of-the-Central-Excise-Act-1944-Penalty-798.asp#.UEYyZ5OyGwc
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Reporting Income under Section 44ADA
- ITR 1: Details for showing Exempt Income
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
