How to calculate interest on excise duty

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 October 2015 Dear Sir,
Please tell me how to calculate interest on excise duty.
my company excise duty payable is 375000 and we not paid it on time 5.10.2015.
please calculate what is the interest amount on this.

Arun Kumar Singh

Arun Kumar Singh (Expert)
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06 October 2015 The interest will be calculated at the rate of 18% per annum. If delay is more than one month then you need to pay penalty at the rate of 1% per month.

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