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TMI BlogInterest on short paid duty.X X X X Extracts X X X X X X X X Extracts X X X X ..... Interest on short paid duty. X X X X Extracts X X X X X X X X Extracts X X X X ..... nment by the specified date."As per rule 8(3) the outstanding amount will be paid along with applicable interest. Sir, I have the balance of ₹ 50000 in PLA. Total duty to be paid for November 2014 comes to 150000. Sir what will the outstanding amount for interest if:-(1) I debit ₹ 50000 on December 6 and pay ₹ 100000 by net banking on December 15 by net banking. 2. If I debi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t ₹ 150000 on December 16 after taking credit of ₹ 100000 deposited on December 15.Please reply. Thanks and regards. Reply By PAWAN KUMAR: The Reply: Dear Dipak Ji, As per my view : Balance in your PLA is 50000 Liability is 150000 You debited 50000 on 06.12.2014 For Balance amount PLA deposited on 15.12.2014 for ₹ 100000 and debited on 16.12.2014 in PLA. Interest will be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paid for 10 days from 06.12.2014 to 15.12.2014 on ₹ 10000 as per my view. Reply By DIPAK K: The Reply: THANK YOU SIR. What will be the interest liability in second option of my query. Thanks and regards. Reply By PAWAN KUMAR: The Reply: Dear Dipak Ji, As per your second query, you will debit 150000 on 16.12.2014, Interest will applicable on 150000 from 06.12.2014 to 16.12.2014. Reply By ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DIPAK K:
The Reply:
Thank you sir for your quick response. X X X X Extracts X X X X X X X X Extracts X X X X
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