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Interest on short excise duty

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 April 2012 Dear all,

INTEREST OF SHORT PAYMENT OF EXCISE DUTY IS 18% IT'S MONTLY/YEARLY ????


Uday
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RAMESH KUMAR VERMA

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RAMESH KUMAR VERMA (Expert)
12 April 2012 interest will be applicable 18% per annum, if assesse fails the amount the duty or short payment in prescribed time period outstanding payment will be given @18%per annum for the period started first day after due date till the date of actual payment of actual payment of the OUTSTANDING AMOUNT.

regards,
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CA Kishore Tallam

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CA Kishore Tallam (Expert)
12 April 2012 Agree with expert.
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