Default in payment of excise duty may trigger interest or penalty, recovery proceedings and denial of input credit. Notice directs remediation of a default in Central Excise duty shown on ER-1, stating that unpaid duty and interest amount to clearance without payment ... Summary
Default in payment of excise duty may trigger interest or penalty, recovery proceedings and denial of input credit.
Notice directs remediation of a default in Central Excise duty shown on ER-1, stating that unpaid duty and interest amount to clearance without payment and may lead to penalties, recovery action, confiscation of goods at customers' end and denial of CENVAT credit. The recipient is directed to pay the outstanding duty with interest or the applicable daily penalty within ten days and to submit all sale invoices for the reported clearances, failing which recovery proceedings under the relevant excise and customs provisions will be initiated.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 1
Join Channel
TaxTMI 