Interest on delayed payment of equalisation levy – Section 170 , Finance Act, 2016 - International Taxation - Income Tax

Interest on delayed payment of equalisation levy Section 170 , Finance Act, 2016 Every assessee or e-commerce operator, who fails to credit the equalisation levy or any part thereof within the period specified under section 166 or section 166A to the account of the Central Government within the period specified in that section, shall pay simple interest @1%. of such levy for every month or part of a month by which such crediting of the tax or any part thereof is delayed.