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Central Excise Rule - Payment of Duty

Manan Jain (Proprietor) (238 Points)

21 August 2010

Payment of duty on quarterly basis rather than on monthly basis by an SSI....

Can Anyone please tell me tht whether for Nov-10 Examination which dates are relevant 15th & 16th or 5th & 6th.

Moreover for Electronic Payment which amount is relevant 50 Lakhs or 10 Lakhs

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2 Replies

(Guest)

The due dates are 5th and 6th and the SSI have to pay duty on quarterly basis, also filing of returns on Quarterly basis, and e-payment is mandatory above Rs 50 Lacs of liability (Actual Payment + CENVAT Credit taken)

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C.V.R.SARMA (SERVICE) (90 Points)
Replied 11 September 2010

Due dates for payment of duty by an SSI unit is 5th of the following quarter in case of normal units and in the case of units which have to pay the duty electronically, it is 6th of the following quarter.

Presently, all the units where the last financial year duty payments ( Cash + Input Credit) is Rs 10 lakh or more, then they have to pay the duties electronically.