implication of non payment of interest URGENT
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 December 2010
Co issues supplementary invoices for which it is liable under sec 11AB.As per said sec interest will be payable till the date of payment of duty on supplementary invoice.
Company pays the duty on supplementary invoices within due date however postpones the liability of interest on the same, which it pays at the end of the year.
Is there any time limit within which such interest needs to be paid? Is there any implication such as penalty or confiscation for non payment of interest within time limit applicable if any?
Company pays the duty on supplementary invoices within due date however postpones the liability of interest on the same, which it pays at the end of the year.
Is there any time limit within which such interest needs to be paid? Is there any implication such as penalty or confiscation for non payment of interest within time limit applicable if any?
11 December 2010
Sec 11A and 11AB apply only in respect of demand of duty of excise u/s 11A. So interest is payable under this section on demand.
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
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- UDIN ISSUE
- TDS on purchase of under construction property from a reseller
- Change Of Karta In Case of Death
- GST Intimation due to Government took possession of Business Premises under PPE Act
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
