Payment through pla

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2011 CAN PLA HAVE NEGATIVE BALANCE? PLEASE GIVE REFERENCE OF RULE OR CASE LAW.

I HAVE A CASE REGARDING THE QUESTION.

ASSESSEE HAVE NIL BALANCE IN PLA ACCOUNT ON 31/07/2011. IT DEBITD THE ACCOUNT WITH THE DUTY PAYABLE ON 31-07-2011. ON 08/08/2011 IT DEPOSITED THE AMOUNT IN PLA ACCOUNT WITH INTEREST.

U S Sharma

U S Sharma (Expert)
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18 December 2011 Central Government has issued a notification no. 34/2007 CE (NT) dated 11.09.2007 to amend rule 8 of the Central Excise Rules, 2002.

Now, the due date for deposit of Central Excise duty through electronic mode has been extended by one day.

Therefore due dates for payment of Central Excise Duty as amended shall be as follows:

For SSI Units (i.e. Units availing value based exemption - for more details - refer to chapter no 7, 7A, 7B, 7C and 7D of Central Excise Practice Manual Published on this site)

- 16th day of the following month if paid through electronic mode.

- 15th day of the following month if paid through any other mode.

For all units other than SSI units ( Central Excise Practice Manual )

- 6th day of the following month if paid through electronic mode.

- 5th day of the following month if paid through any other mode.