03 September 2012
Please help me in excise. The case is, excise duty is paid at the rate of 10% instead of 12% till now.. Now what is the consequences of it.
As per my knowledge I have to file return & deposit the differential amount.
04 September 2012
1st of all pay the diff immediately through PLA or GAR7, and submit your intention to R/O that since you have paid the diff of duty which was happened due to clarical mistake, and pray for weiver of interest and penalty if any.
R/O or D/C ( depending on the amount, will accept the application and may ask you to appear for a short hearing, where you can ask for minimum possible interest,
as the principal excise duty is already paid before their scn or any demand, the penalty may not exceed 25% of duty amount., but if you act prompt then you can save full penalty plus remarkable interest.
CAclubindia
