TaxTMI 
TaxTMI 
Interest and penalty on delayed payment of Exice duty and return
08 Oct 2015 
5 Replies 
12497 Views Asked by
Interest on delayed excise duty must be calculated up to payment date; penalties and no interest on interest apply.
Interest on unpaid excise duty is chargeable from the due date until the date the duty is paid; a separate penalty applies for delayed duty payment. Late filing of the return attracts a per day penalty. When duty and return are both paid/filed on the same later date, interest and duty penalty are calculated only up to that date. Part payments leave the balance payable immediately. No interest is chargeable on interest or on penalty. (AI Summary)
Interest on unpaid excise duty is chargeable from the due date until the date the duty is paid; a separate penalty applies for delayed duty payment. Late filing of the return attracts a per day penalty. When duty and return are both paid/filed on the same later date, interest and duty penalty are calculated only up to that date. Part payments leave the balance payable immediately. No interest is chargeable on interest or on penalty. (AI Summary)
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