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How much and how to pay penalty on delayed excise payments?

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Querist : Anonymous

Querist : Anonymous (Querist)

17 October 2011 I was to pay Excise Duty by the 5th October but paid it on 7th October instead. I forgot to mention the interest/penalty while filing returns. I have been asked to pay the same by Excise Department. how do I do it? Do I revise the same return or do I have an option to pay it seperately, if yes which challan and under what heading?

Thanks,
Sanjay

S.P.Mahanta

S.P.Mahanta (Expert)

21 October 2011 You can pay interest for late payment of excise duty for 2 days @ interest of 18%immediately through Gr-7 challan. No penalty payable if Er-1 filed in time. Payment of interest with challan reference to be included in ER-1 of Oct'11.

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