Intrest

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 March 2010 Dear experts
Querry has been raised by audit party during EA2000 audit. We have already paid the amt of said query.Now we have received letter to pay intrest for the same.The intrest amt is also debitted through our PLA a/c.in basic coloum. Now excise authority tell us that this is not proper procedure but you have to pay intrest through separate challan.We also ready for that, but my question is that how can we recredit the amt is alrady debitted for intrest?If we are paying intrest for through separte challan, it is necessary to show this transaction in PLA.If yes, in which colum in er1 and PLA we have to show this credit debit transaction?
I will be thankfull to experts if I will get better guidline.

Thanks
Sandeep

CH.LN.Sastry,MCom, LLB, M.Phil

CH.LN.Sastry,MCom, LLB, M.Phil (Expert)
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14 April 2010 You have to pay the interest amount in Misce. head. But you have paid it in BED.

Now you pay the interest in Misce. head and apply for refund to the Asst./Dy. Commissioner. You will get refund. Mean while you dont take recredit for the above.

CH.L.N.SASTRY
09948528139 / 09553343331

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