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Excise duty payable after 31 st march 2012

1214 views 4 replies
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Finance Manager
199 Points Posted on 06 April 2012

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
Replies (4)
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GST Advocate
15220 Points Posted on 06 April 2012

Interest rate 18% will be applicable.

22 Reply
On 06 April 2012 at 13:51
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Tax consultant
109 Points Posted on 06 April 2012
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.
2 Reply
On 06 April 2012 at 19:44
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Tax consultant
109 Points Posted on 06 April 2012
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.
2 Reply
On 06 April 2012 at 19:51
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AGM Taxation
373 Points Posted on 07 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

3 Reply
On 07 April 2012 at 12:04


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