TaxTMI 
TaxTMI 
Penalty of Excise after due date of payment
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....enalty of Excise after due date of payment<br> Query (Issue) Started By: - Umesh Talanpuri Dated:- 11-9-2013 Last Reply Date:- 16-9-2013 Central Excise<br>Got 4 Replies<br>Central Excise<br>Dear Sir/Madam I am small scale Ind. I am paid Excise duty regulary. but last July-13 Payable amt. 120000/- on due date 05/08/2013, My Cenvat credit Rs. 45000/-. Now Balance amt of payable Rs. 75000/-. my acco....
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....untant made mistake in taken credit, he was taken Rs. 55000/- instead of 45000/-. Rs. 10000/- excess credit taken in Part-II, now balance payment Rs. 65000/- paid by GR-7 instead of 65000/-..inquiry by Excise dpar. I am pay difference with interest. on 10/09/2013. please advice me, can i faulty in payment . Reply By Naveed S: The Reply: As duty already paid with interest, the matter is settle....
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....d from your end. Penalty may be imposed if SCN is issued on the issue. Reply By Naveed S: The Reply: As per Rule 8 of the Central Excise Rule, 2002 the duty, on the goods removed from the factory or warehouse in which goods are deposited without payment of duty, shall be paid on monthly basis by the 5th day of the following month from the end of quarter - for the units availing SSI exemption. E....
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....ven otherwise sub rule 3 and 3(A) of rule 8 shall not apply in your case as duty already paid with interest and mistake happenend due to ignorance. Reply By phani raju konidena: The Reply: If duty and interest is already paid before issue of showcause notice, there is no question of payment of penalty as held by the Apex Court in the case of Visakhapatnam Steel Plant. Reply By Umesh Talanpuri: ....
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....The Reply: Thank you very much to all<br> Discussion Forum - Knowledge Sharing ....