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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Excise duty payable after 31 st march 2012
Replies (4)
Interest rate 18% will be applicable.
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.
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.
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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