Payment of Interest

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..... Payment of Interest
Query (Issue) Started By: - Srivatsan Krishnamachari Dated:- 5-2-2014 Last Reply Date:- 6-2-2014 Central Excise
Got 2 Replies
Central Excise
Dear Learned Friends, Li .....

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..... ability towards shot-paid duty or service tax is fulfilled by debiting the cenvat account.. Can interest herein be paid from Cenvat Account or by only by making cash payment . Is payment of interest f .....

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..... rom cenvat account specifically forbidden by the relevant rules.Can you please clarify this . Thanks & With Regards, K.Srivatsan Reply By Pradeep Khatri: The Reply: Under Customs Act,1962 Central .....

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..... Excise Act,1944 and Finance Act,1994, Interest and Penalties are required to be paid in cash only. There could not be any adjustment from the CENVAT credit Account. Reply By Naveed S: The Reply: Yes .....

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..... , and same for Payment of Penalty too..
Discussion Forum - Knowledge Sharing .....

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