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 Central Excise Delays Must Be Paid in Cash, Not via CENVAT Credit, Say Experts. A query was raised regarding whether interest due to delayed payment of central excise can be adjusted using the CENVAT credit amount. Four individuals responded, unanimously agreeing that interest and penalties must be paid in cash through a GAR-7 Challan or through the Personal Ledger Account (PLA) and cannot be adjusted via the CENVAT credit account. The responders emphasized that the interest and CENVAT credit are under different account heads, necessitating separate cash payments for the interest.