Payment of interest on excise duty

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LALIT KUMAR (Querist)
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13 October 2011 I COULD NOT PAY EXCISE DUTY ON TIME (ONLINE BY 6TH OCT) i WANT TO PAY THE SAME NOW (13.10.2011).
SHOULD INTEREST BE PAID?
AT WHAT RATE ?
AND HOW IT IS TO BE PAID (THE ONLINE CHALLAN DOES NOT HAVE THE COLUMN OF INTEREST )

U S Sharma

U S Sharma (Expert)
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14 October 2011 excise duty should be paid in respective heads of BED/EC/S&HSEC as PLA and then debited as interest

PUNEET GOYAL

PUNEET GOYAL (Expert)
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14 October 2011 1. Yes you have to pay the interest @ 18% pa for the period from 07.10.11 till the date of actual payment.

LALIT KUMAR

LALIT KUMAR (Querist)
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15 October 2011 Thank you Gentlemen, for the advise.

LALIT KUMAR

LALIT KUMAR (Querist)
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15 October 2011 What will be source document no in this case.
Interest is being paid voluntarily. (for the month of Sept 2011)

PUNEET GOYAL

PUNEET GOYAL (Expert)
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15 October 2011 in case interest is paid suo- moto by the assessee, the period for which such amount is paid may be furnished.

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