Interest on late payment of amount as determined under section 11D

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..... reunder from the buyer of such goods, 1 [ or from any person or where a person has collected any amount as representing duty of excise on any excisable goods which are wholly exempt or are chargeable to nil rate of duty, the person ] the person is liable to pay such amount as determined under sub-section (3) of section 11D, shall, in addition to the amount, be liable to pay interest at such rat .....

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..... ayable and in other cases the interest shall be payable on the whole amount, including the amount already paid. (2) The provisions of sub-section (1) shall not apply to cases where the amount had become payable or ought to have been paid before the day on which the Finance Bill, 2003 receives the assent of the President. Explanation1 : where the amount determined under sub-section (3) .....

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