Interest on late adjustment of duty in rg23-a

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Davindar Singh (Querist)
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30 April 2012 During audit of a concern it was found that company did not charged duty on sale of waste for 3 months and then in 4th month they debited the total duty in RG-23A without any interest.

Please clarify whether interest will be applicable in such case or not. &

if yes what will be the rate of interest.

laxman ishwarrao mitba

laxman ishwarrao mitba (Expert)
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03 May 2012 interest on non/late payment of central excise duty is required to be paid, irrespective of duty payment either through PLA or Cenvat. The rate of interest from 01/04/2012 is 18% PA.

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