banner_ad

Penalty by excise officer ?

747 views 1 replies

 

Sir.
Mine is non-ssi unit. Last week AG audit was conducted by excise officers, in which they pointed out that i have taken excess credit of one purchase bill. Excess amount is rs. 13500. He said i need to reverse this credit & also pay penalty as per new rule. Is he right ? Am i liable to penalth ? How much interest should i pay ? Amount was for the year july 2008. I think he is referring rule 15 of ccr, 2004.
ALso, there is increase in Interest rates. Plz convey the same.
Replies (1)

you had to reverse the duty upfront in presence of excise audit team, so that they had to take note in their audit report, for rest of interest and penalty, interest rate is 18% at present per annum and penalty is maximum 100%

try to selltle the duty before issue of SCN, this will save you from lengthy procedure of hearings and higher penalty. 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

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

CMNITY HIRE

New Delhi

Others

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
03 May 2026
Senior Chartered Accountant

Nirmal Jain & Co

New Delhi

CA

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
04 May 2026
Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details