TaxTMI 
TaxTMI 
INTEREST PAYMENT
X X X X Extracts X X X X
X X X X Extracts X X X X
....NTEREST PAYMENT<br> Query (Issue) Started By: - SACHIN SHAH Dated:- 16-7-2011 Last Reply Date:- 17-7-2011 Central Excise<br>Got 2 Replies<br>Central Excise<br>sIR, Our one unit located at surat and n....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ow a days excise audit continue auditore raised point for some cenvate credit wrongly awailed -- Rs.1200000 ( twelves lacds ) before 31-03-2011 and Rs.500000 ( five lacs ) after 31-03-2011 . Please gi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ve effect of interst payemtn . Please give interest % how interst payment liable . Regards, SACHIN Reply By pradeep khatri: The Reply: Before budget interest was @ 13% up-to 31-03-2011 and from 01....
X X X X Extracts X X X X
X X X X Extracts X X X X
....-04-2011 interest is @ 18%. Reply By ROHAN THAKKAR: The Reply: Dear Sir, It has been clarified vide circular No 942/03/2011-CX dated 14-03-2011 read with the Judgement of Supreme Court in the case....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... of UOI v/s Ind-Swift Laboratories P Ltd which clarifed that the interest is required to be paid from the date of wrong availment of cenvat credit till the date of actual payment. The interest is req....
X X X X Extracts X X X X
X X X X Extracts X X X X
....uired to be paid at 13% p.a till 31-03-2011 and from 01-04-2011, it is required to be paid at 18%. [Notification No 6/2011-CE(NT)<br> Discussion Forum - Knowledge Sharing ....