Section 170 - Interest on delayed payment of equalisation levy. - Finance Act, 2016

Interest on delayed payment of equalisation levy. 170 . Every 1 [ assessee or e-commerce operator ] , who fails to credit the equalisation levy or any part thereof as required under 2 [ section 166 or section 166A ] to the account of the Central Government within the period specified in that section, shall pay simple interest at the rate of one per cent. of such levy for every month or part of a month by which such crediting of the tax or any part thereof is delayed. ****************** NOTES:- 1. Substituted vide Finance Act, 2020 dated 27-03-2020 before it was read as assessee 2. Substituted vide Finance Act, 2020 dated 27-03-2020 before it was read as section 166