https://www.taxtmi.com/caselaws?id=115419 Failure to pay duty on time under the compounded levy scheme attracted both penalty under Rule 96-ZP(3)(i)(ii) and interest. The duty liability under Section 3A of the Central Excise Act had to be discharged within the prescribed period, and default triggered the statutory consequences. Later payment of duty before issuance of the show cause notice did not erase the already incurred liability for delayed payment. Penalty was therefore upheld, though only the quantum was left to the competent authority's discretion, and interest remained payable in accordance with law. en-us Tue, 04 Jan 2005 00:00:00 +0530 Tue, 29 May 2012 15:34:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115419 Failure to pay duty on time under the compounded levy scheme attracted both penalty under Rule 96-ZP(3)(i)(ii) and interest. The duty liability under Section 3A of the Central Excise Act had to be discharged within the prescribed period, and default triggered the statutory consequences. Later payment of duty before issuance of the show cause notice did not erase the already incurred liability for delayed payment. Penalty was therefore upheld, though only the quantum was left to the competent authority's discretion, and interest remained payable in accordance with law. Case-Laws Central Excise Tue, 04 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115419