Interest and penalty on delayed payment of Exice duty and return

[CMA VENKATESHAM MUTA]

Sir,Please clarify me the following doubt.ED payable is rs 10000 on 6th aug-15But payment and return filed on 25-09-2015,Int. Paid is rs. 150,Penalty paid rs. 100,Penalty for delay in return paid 1400 (per day rs. 100)As on today what amount should I pay towards interest and penalty.Kindly clarify my doubt

AI Summary

Interest and Penalties for Late Excise Duty Payment: 18% Interest and 1% Penalty Applied. Total Payable: 10,264. A forum participant inquired about the interest and penalties due for a delayed excise duty payment of 10,000, initially due on August 6, 2015, but paid on September 25, 2015. The interest rate is 18%, resulting in 247 interest for a 50-day delay. A penalty of 1% for two months totals 17, making the total payable 10,264. Additionally, a 45-day delay in filing the return incurs a 4,500 penalty. It was clarified that interest and penalties are calculated up to September 25, 2015, with no further interest on penalties.