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of <h1>India Restores Central Excise Instalment Payment Options for Up to 12 Months, with 17.5% Interest, by Principal Collectors.</h1> The Government of India has delegated authority to Principal Collectors of Central Excise to allow payment of Central Excise dues in up to 12 instalments for individual cases, based on merit and financial assessment. This decision reverses previous instructions that withdrew such powers. The instalment facility will be granted with a simple interest rate of 17.5% compounded monthly from the date of demand confirmation. Reports of these cases must be submitted to the Board monthly. Requests for more than 12 instalments require Board approval, with recommendations including the assessee's financial status and tax history.
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