Become a Certified GST Practitioner in just 58 hrs. Register Now!

Payment of duty

Balendra Parmar (Finance Manager) (199 Points)

03 April 2012

We remove goods from our factory without payment of excise duty because we have cenvat credit in RG23 Part II.We have dabit the PLA a/c Now we have payable duty , what is the time limit for payment of duty after adjustment?

Reply
Follow
Share

1 Replies

Arun Kumar Singh (GST Advocate) (15220 Points)
Replied 04 April 2012

Goods have to be cleared from factory under an invoice. Duty is payable on monthly basis, by 5th of following month. In case of e-payment last date is 6th duty can be paid through current account (PLA) and cenvat credit. If you have short cenvat credit available then you will pay remaining balance from PLA a/c.