TMI BlogINTEREST PAYMENTX X X X Extracts X X X X X X X X Extracts X X X X ..... sIR, Our one unit located at surat and now a days excise audit continue auditore raised point for some cenvate credit wrongly awailed -- Rs.1200000 ( twelves lacds ) before 31-03-2011 and Rs.500000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ( five lacs ) after 31-03-2011 . Please give effect of interst payemtn . Please give interest % how interst payment liable . Regards, SACHIN - Reply By pradeep khatri - The Reply = Before bu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dget interest was @ 13% up-to 31-03-2011 and from 01-04-2011 interest is @ 18%. - Reply By ROHAN THAKKAR - The Reply = Dear Sir, It has been clarified vide circular No 942/03/2011-CX dated 14 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -03-2011 read with the Judgement of Supreme Court in the case of UOI v/s Ind-Swift Laboratories P Ltd which clarifed that the interest is required to be paid from the date of wrong availment of cenva ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t credit till the date of actual payment. The interest is required to be paid at 13% p.a till 31-03-2011 and from 01-04-2011, it is required to be paid at 18%. [Notification No 6/2011-CE(NT) - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... INTEREST PAYMENT - Query Started By: - SACHIN SHAH Dated:- 16-7-2011 Central Excise - Got 2 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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