Interest on excise duty

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 August 2015 what is the interest rate on excise duty ?
and how it is calculate ?

pls help.....

is it 18% pa & calculate monthly basis ?

Arun Kumar Singh

Arun Kumar Singh (Expert)
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17 August 2015 upto 6 month 18% per annum and after 6 month 24% per annum after after their 30% per annum rate of interest will be applicable.

Querist : Anonymous

Querist : Anonymous (Querist)

17 August 2015
thanks sir

but how it calculate

means daywise, monthly or yearly ?

we're under SSI & till we dont pay duty of 1st Querter.
return file by payable of rs 351000.00

pls calculate interest if duty payment date will be 20-8-2015 of 1st Querter

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Arun Kumar Singh

Arun Kumar Singh (Expert)
Follow

14 September 2015 You should consult with any professional.