Installment payment of excise dues allows Principal Collectors to permit deferred payment with interest and mandatory reporting. Principal Collectors of Central Excise may grant, on merits and in deserving cases, payment of Central Excise dues in up to 12 instalments after assessing the assessee's financial position and revenue interest. Interest is chargeable from confirmation of the demand as simple interest at 17.5% compounded monthly. Monthly reports of such cases must be sent to the Board, and requests for more than 12 instalments must be referred to the Board with clear recommendations including financial position and past tax performance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Installment payment of excise dues allows Principal Collectors to permit deferred payment with interest and mandatory reporting.
Principal Collectors of Central Excise may grant, on merits and in deserving cases, payment of Central Excise dues in up to 12 instalments after assessing the assessee's financial position and revenue interest. Interest is chargeable from confirmation of the demand as simple interest at 17.5% compounded monthly. Monthly reports of such cases must be sent to the Board, and requests for more than 12 instalments must be referred to the Board with clear recommendations including financial position and past tax performance.
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