banner_ad

Query regarding penalty on late payment

This query is : Resolved 
Profile Image

Profile Image

(Querist)
08 July 2015 DEAR SIR, DUE TO LACK OF FUNDING ASSESSEE ARE UNABLE TO DEPOSIT THE EXCISE DUTY PAYABLE.BUT AFTER AVAILABILITY OF APPROPRIATE FUND HE DEPOSITED THE EXCISE DUTY ALONG WITH INTEREST.NOW AO CHARGED THE PENALTY DUE TO DELAY IN DEPOSIT.WHAT SHOULD BE THE PROCEDURE TO ESCAPE THE PENALTY.
Profile Image

Arun Kumar Singh

Profile Image

Arun Kumar Singh (Expert)
08 July 2015 If basic duty payment is less then one month then only interest will be applicable. Penalty will not be applicable.
Profile Image

Anshul

Profile Image

Anshul (Querist)
08 July 2015 Dear Sir,
Assessee had paid the Basic Duty Payment Along With Interest with in next 6 Months.
Whether Penalty will impose on him.If Yes, Then How much & can it be saved?
Profile Image

Arun Kumar Singh

Profile Image

Arun Kumar Singh (Expert)
08 July 2015 The penalty will be imposed at the rate of 1%.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
ARTICLESHIP 02 May 2026
Accounts and Audit Assistant

Kothawade and Laddha

Thane

B.Com

View Details
Company
04 May 2026
Articleship

S.K Gairola & CO

New Delhi

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details