Interest/penalty on delay in excise payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 November 2016
Dear seniors,
We had excise liability for the month of october but i have paid excise duty on 7/11/2016 pls tell me how much interest/penalty will be levied on this late payment of ED and for how many days,
Regards
Mukesh
We had excise liability for the month of october but i have paid excise duty on 7/11/2016 pls tell me how much interest/penalty will be levied on this late payment of ED and for how many days,
Regards
Mukesh
08 November 2016
Due date for ED payment is 5th of the next month. if you have paid duty on 7th day of next month then interest applicable @18% for 2 days. i.e. ED payble * 18%/360*No of days in delays.
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 November 2016
Sir i think ED online payment is 6th of next month not 5th
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