INTEREST AND PENAL PROVISIONS - Under the Central Excise Act, 1944:

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....xcisable goods or variety of such goods as notified; (ii) transport of prohibited excisable goods; iii) Failure to obtain registration by specified persons; (iv) Evasion of duty payment; (v) Removal of excisable goods in violation of Central Excise Act or Rules made thereunder; (vi) Possession, transport, deposit, keeping, concealment, sales and purchase of goods liable to confiscati....

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....s by Companies The person in charge and responsible for the conduct of the business of the company shall also be liable for the offence. Applicable provisions as in the case of individuals Sec. 11 A Non-payment/Short payment/ Non-levy/ Short levy/ eronoeous refund penalty equivalent to 25%, if duty is paid with interest Sec. 11AA Non payment of duty determined by an Order issued unde....

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....st and reduced penalty are paid within 30 days from communication of adjudication order. Section11BB Delay in sanction of refund beyond 3 months time from date of receipt of refund claim Interest @ 6% is payable by the Department Section11DD Interest on amounts collected in excess of duty Interest @ 15% (Notification No. 68/2003 CE(NT) dated 12-9-2003 Section11DDA Protection of rev....