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of <h1>Excess Excise Duty Collection Under Section 11DD: Pay Interest from 10-36% Annually, Unless Paid Voluntarily in 45 Days</h1> Section 11DD of the Central Excise Act, 1944 mandates that if an excess amount is collected as excise duty on goods, the collector must pay interest on the excess amount. The interest rate is set between 10% and 36% per annum, as determined by the Central Government, starting from the month after the amount should have been paid. If the amount is paid voluntarily within 45 days following a directive from the Board under section 37B, no interest is due. This provision does not apply to amounts payable before the Finance Bill, 2003. Adjustments to the interest are made if the amount is altered by an appellate authority or court.
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