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 CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- FCRA 6 E- Intimation
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- ITR 4 and Bank transactions
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
