Interes or penalty leviable on Duty not paid within a time limit

[manan pandya]

Dear Sir,

we have started manufacturing unit since october -14 , after management decided not to avail SSI exemption then we applied for Excise Registration and we got a RC. on 25 th Nov-14 , still we have purchased raw material with excisable as well as non excisable since october-14 now we want to paid all duty in current date so my questions are below.

1) still we are covered under SSI UNIT ? and payment and return mode on Quarterly.?

2) Can we take cenvat on my raw material purchase and same we can utilise my duty payment .

3) what is the role of interest and penalty.? and how much percentage?

pls. guide ....

regards,

Manan V Pandya

Cell: +919510018659

Ahmedabad.-

AI Summary

Manufacturing Unit Loses SSI Status; Must Pay Monthly Duties, Can Use CENVAT Credit, Faces Penalties for Late Payment A manufacturing unit, established in October 2014, queried about excise duty obligations after opting out of the SSI exemption. They sought clarification on whether they still qualified as an SSI unit, the applicability of CENVAT credit on raw materials, and the implications of interest and penalties for delayed duty payments. Responses clarified that upon obtaining central excise registration, they no longer qualified as an SSI unit, and duty payments were required monthly. CENVAT credit could be utilized for duty payments, and interest or penalties would apply only if duties were paid late.