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Querist : Anonymous

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Querist : Anonymous (Querist)
11 January 2016 Dear Sir,

We have not made the excise duty payment on 5th Jan 2016 for oct-15 to dec15 quarter and we already 7 days delay after due date, so what is the calculation of interest or penalty for this 7 days?
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ANIL JANGID

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ANIL JANGID (Expert)
11 January 2016 intrest pay @ 18% per annum. no plenty for 7 day delay
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daya shankar singh

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daya shankar singh (Expert)
11 January 2016 Interest @ 18% p.a. from the date of due data but penalty @1% per moth or part of month on unpaid duty is applicable , if duty is not paid within one month from the due date
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