Rate of interest on late payment of excise duty

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..... Respected Sir, As regarding above subject, my query is that is there any change in the rate of interest on late payment of duty according to the budget 2016-17 because at present the rate is 18% on late payment of duty so from 01-04-2016 it will be 18% or else.Please reply. THANKING U - Reply By Rajagopalan Ranganathan - The Reply = Sir, With effect from 01.04.2016 the .....

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..... rate of interest to be levied under Section 11 AA of Central Excise Act, 1944 will be 15% vide Notification No. 15/2016-CE (NT) dated 01.03.2016 . Prior to that date the rate of interest will be 18%. - Reply By Ganeshan Kalyani - The Reply = The rate of interest for delayed payment of excise duty has been minimized from 18% to 15% w.e.f. 01.04.2016. - Reply By CS SANJAY MALHOTRA - The Re .....

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..... ply = Endorsed the facts placed by Sh. Rajagopalan Sh. Ganeshan ji... - Reply By Mahir S - The Reply = Sir, It has been proposed in the recent Budget to rationalize the Interest rates on delayed payment of duty/tax across all indirect taxes uniformly at 15% per annum. However, in case of Service Tax collected but not deposited to the exchequer, the rate of interest will be 24% per annum fro .....

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..... m the date on which the Service Tax payment became due. Further, in case of Assessee, whose value of taxable services in the preceding year/years covered by the notice is less than ₹ 60 Lakh, the rate of interest on delayed payment of Service Tax will be 12%. The above changes will come into effect on the day the Finance Bill receives the assent of the President. - Rate of interest on lat .....

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..... e payment of excise duty - Query Started By: - MEHUL ASHAR Dated:- 6-3-2016 Central Excise - Got 4 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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