PLA deposit

[sunil bandekar]

Hi,

What will the consequences if the amount is not transferred by bank to PLA a/c by 5th of the month due to banking issues.

In such situation where there no enough balance to pay the month's excise duty, what can be done?

Kindly suggest.

AI Summary

Excise Duty Payment Deadlines Explained: Pay by 6th Online or 5th Otherwise, 18% Interest for Late Payment A user inquired about the consequences of a bank failing to transfer funds to a Personal Ledger Account (PLA) by the 5th of the month, affecting the ability to pay excise duty. The response clarified that maintaining a PLA is no longer necessary for Central Excise Assessees. Under Central Excise Law, the cash component of excise duty must be paid by the 6th of the following month if using internet banking, or by the 5th if using other payment methods. Failure to pay on time results in an 18% annual interest charge. The practice of transferring funds to PLA has been discontinued with the introduction of ACES and GAR-7 challan.