Interest on delayed equalisation levy payments imposes simple monthly interest for late crediting to the government account.

Where an assessee or e commerce operator fails to credit the equalisation levy, or any part thereof, to the Central Government account within the prescribed period, a statutory simple interest charge is payable for every month or part of a month during which such crediting is delayed; the obligation attaches to the timing of the credit and applies to both assessees and e commerce operators.

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