Excise duty payable after 31 st march 2012

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Finance Manager
199 Points Joined February 2010

Dear Sir,

We have not paid duty on 31 st march 2012.What is the penulty ? interest rate 13 % applicable.

Regards,

Balendra.

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On 06 April 2012 at 13:45 Report
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GST Advocate
15220 Points Joined January 2009

Interest rate 18% will be applicable.

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On 06 April 2012 at 13:51
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Tax consultant
109 Points Joined November 2010
delay in payment of E.D by due date would attracts interest @ 18% as per rule 8 of CCR 2002. Howerver ques. Of penalty wil arise if E.D is not paid, short paid or erroneously refunded as per sec 11 of excise.
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On 06 April 2012 at 19:44
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Tax consultant
109 Points Joined November 2010
if u hv paid all the dues before issue of show cause notice then there wil be no penalty. But interest shall apply for delay.
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On 06 April 2012 at 19:51
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AGM Taxation
373 Points Joined April 2012

You Pay Excise duty with interest. Better you pay before filing return that is 10th of April 2012. Then no penalty will arise

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On 07 April 2012 at 12:04


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