Failure to pay excise duty triggers interest and penalties, plus confiscation and enhanced penalties for unauthorized removals. The Fourth Amendment prescribes that failure to pay total excise duty by 31 March renders the manufacturer liable to pay the outstanding duty with interest at eighteen per cent per annum from 1 April until payment, and a penalty equal to the outstanding amount or five thousand rupees, whichever is greater. Monthly defaults attract similar interest from the day after the due date and the same penalty. Unauthorized removal of specified non alloy steel ingots, billets or hot rolled products attracts confiscation and a penalty up to three times the value of the goods or five thousand rupees, whichever is greater.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Failure to pay excise duty triggers interest and penalties, plus confiscation and enhanced penalties for unauthorized removals.
The Fourth Amendment prescribes that failure to pay total excise duty by 31 March renders the manufacturer liable to pay the outstanding duty with interest at eighteen per cent per annum from 1 April until payment, and a penalty equal to the outstanding amount or five thousand rupees, whichever is greater. Monthly defaults attract similar interest from the day after the due date and the same penalty. Unauthorized removal of specified non alloy steel ingots, billets or hot rolled products attracts confiscation and a penalty up to three times the value of the goods or five thousand rupees, whichever is greater.
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