We have not made the excise duty payment on 5th Jan 2016 for oct-15 to dec15 quarter and we already 7 days delay after due date, so what is the calculation of interest or penalty for this 7 days?
11 January 2016
Interest @ 18% p.a. from the date of due data but penalty @1% per moth or part of month on unpaid duty is applicable , if duty is not paid within one month from the due date
CAclubindia
