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<h1>Interest Penalty for Late Equalisation Levy Payments: 1% Monthly Under Finance Act Section 170 for Assessees and E-commerce Operators.</h1> Under Section 170 of the Finance Act, 2016, any assessee or e-commerce operator who fails to remit the equalisation levy within the specified period under sections 166 or 166A must pay a simple interest of 1% per month or part of a month for the delay. This interest applies to the amount of the levy not credited to the Central Government's account within the stipulated timeframe.