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of <h1>Interest on Delayed Excise Duty Payments: Section 11AA Imposes 10-36% Annual Rate, Exceptions for Timely Voluntary Compliance.</h1> Section 11AA of the Central Excise Act, 1944 mandates that individuals liable to pay duty must also pay interest on delayed payments, at a rate between 10% and 36% per annum, as determined by the Central Government. This interest applies from the due date until the actual payment date, regardless of voluntary payment or determination under Section 11A. However, no interest is required if the duty is paid within 45 days following a directive from the Board under Section 37B, provided the payment is made voluntarily and without any appeal rights reserved.
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