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of <h1>Mandatory 15% annual interest on late cess payments to government, calculated from the day after due date.</h1> Imposes mandatory interest on delayed payment of cess: any person liable under the Act or rules who fails to pay the cess (in whole or part) to the Central Government within the specified period must self-assess and pay interest at 15% per annum for the period the amount remains unpaid. Prescribes that such interest is to be computed in the prescribed manner from the day immediately following the day on which the cess was due, thereby increasing the amount payable for late remittance until the outstanding cess is paid.
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