TaxTMI 
TaxTMI 
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.
PLA deposit
07 May 2014 
1 Reply 
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Payment deadlines for excise duty: late deposit triggers interest and procedural limits on PLA credit.
Excise payers must remit the cash component of monthly excise duty by the applicable deadline based on payment mode; late payment attracts interest at the prescribed rate. Historically, sums deposited by TR-6 challan required the assessee to take credit into the Personal Ledger Account and banks did not transfer deposits into PLA, but this practice has been discontinued following introduction of ACES and the GAR-7 challan. (AI Summary)
Excise payers must remit the cash component of monthly excise duty by the applicable deadline based on payment mode; late payment attracts interest at the prescribed rate. Historically, sums deposited by TR-6 challan required the assessee to take credit into the Personal Ledger Account and banks did not transfer deposits into PLA, but this practice has been discontinued following introduction of ACES and the GAR-7 challan. (AI Summary)