Payment of excise duty for march

[ASHOK AMIN]

Dear Experts,

I would like to know what will be the after effects if due to acute financial problem we are not able to pay excise duty by the end of last day of march ?

AI Summary

Excise Duty Must Be Paid by March 31; Delays Incur Interest and Penalty Under Rule 8 (3A) of 2002 Rules. An individual inquired about the consequences of failing to pay excise duty by the end of March due to financial difficulties. Experts responded that the duty must be paid with interest if delayed beyond March 31st. Additionally, under Rule 8 (3A) of the Central Excise Rules, 2002, a penalty of one percent per month is applicable if the duty remains unpaid for more than a month past the due date. The inquirer expressed gratitude for the expert advice received.