Interst due to delay payment of central excise

[Nandalal Kanungo]

can we adjust the interst due to delay payment of central excise from cenvat credit amount

please guide me relating this matter.

With regards

Nandalal Kanungo

 

[YAGAY andSUN]

Dear Nandlal Kanungo,

Interest and Penalties are reaquired to be deposited in cash (GAR-7 Challan) or through PLA.  It can't be adjusted through CENVAT credit Account.

This is for your kind information.

Best Regards,

Pradeep Khatri.

[NEERAJ KUMAR, RANCHI]

Yes I do agree with the view of Mr Khatri.

[Vijay kumar]

Interest cannot be adjusted through cenvat credit account since the head of account is different and therefore it needs to be paid in cash through GAR-7 challan.

[akhilesh dubey]

Dear nandalal Jee Interest due to delay payment or other wise cannot be paid through the cenvat credit account. regards, Akhilesh Dubey

AI Summary

Interest on delayed central excise payments cannot be adjusted from CENVAT credit; payment must be made in cash. Interest arising from delayed payment of central excise duties cannot be adjusted against CENVAT credit; such interest and penalties must be paid in cash through GAR-7 challan or via the Public Ledger Account (PLA) because the head of account for interest/penalties is distinct and not chargeable to the CENVAT credit account.