Interest on late adjustment of duty in rg23-a
This query is : Open
Davindar Singh
(Querist)
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.
Please clarify whether interest will be applicable in such case or not. &
if yes what will be the rate of interest.
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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