Indirect taxes

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20 Points Posted on 08 August 2012

Please answer the following questions:

1) If duty + interest + penalty is paid short u/s 11 A (6) of central excise ,then Show cause notice U/s 11 A (1) will be issued by the central excise officer. Now at what rate penalty will be levied in Show cause notice ?

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On 08 August 2012 at 02:05 Report
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Assistant Manager Finance
20 Points Posted on 08 August 2012
1% per month frm date of payment of duty subject to max of25% as per sec 11a(6) coz its voluntary paymrnt before issue of scn in case of captured fraud But if scn has been issued then it wud be 50% of ed nd if the same is paid within 30 days den 25% of ed
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On 08 August 2012 at 17:49
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20 Points Posted on 09 August 2012

will you please more clarify .....now the scn will be issued for the first time ....in this scn rate of penalty will be 1% or 50 % ....this has been not clarified properly in the book also ...only said that scn will be issued as per sec 11 A (1)

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On 09 August 2012 at 01:10
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Assistant Manager Finance
20 Points Posted on 09 August 2012
scn tabhi issue hoga wen something in excess of wat is alrrady paid is to be recovered.. Nd penalty 50% hogi on d excess amt which is to be recovered nd this wud be reduced to 25% if d person pays demand in 30 days
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On 09 August 2012 at 14:55
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20 Points Posted on 09 August 2012

thats what i was asking..... i got it....thanx....

 

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On 09 August 2012 at 23:01
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Assistant Manager Finance
20 Points Posted on 10 August 2012

Welcome smiley

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On 10 August 2012 at 14:44

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