9911796707
TMI BlogManner of paymentX X X X Extracts X X X X X X X X Extracts X X X X ..... be paid by the 6th day of the month following that quarter, if the duty is paid electronically through internet banking and in any other case, by the 5th day of the month following that quarter, except in case of goods removed during the last quarter, starting from the 1st day of January and ending on the 31st day of March, for which the duty shall be paid by the 31st day of March. 16[Explanation-1. - For the removal of doubts, it is hereby clarified that,- 17[(a) *** ] (b) an assessee, 18[***] shall be eligible, if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year, computed in the manner specified in the said notification, did not exceed rupees four hundred lakhs.] Explana ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. (3) If the assessee fails to pay the amount of duty by the due date, he shall be liable to pay the outstanding amount along with an interest at the rate of specified by the Central Government vide notification under 8[section 11AA] of the Act on the outstanding amount, for the period starting with the first day after due date till the date of actual payment of the outstanding amount. 12[(3A) If the assessee fails to pay the duty declared as payable by him in the return within a period of one month from the due date, then the assessee is liable to pay the penalty at the rate of one per cent. on such amount of the duty not paid, for each month or part thereof calculated from the due date, for the period during which such failure continue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and during this period notwithstanding anything contained in sub-rule (4) of rule 3 of CENVAT Credit Rules, 2004, the assessee shall be required to pay excise duty for each consignment by debit to the account current and in the event of any failure, it shall be deemed that such goods have been cleared without payment of duty and the consequences and penalties as provided in these rules shall follow". 2 Has been inserted vide Notification No. 8/2007 CE (NT) dated 1/3/2007 with effect from the 1st day of April, 2007 3 Has been inserted vide Notification No. 8/2007 CE (NT) dated 1/3/2007 with effect from the 1st day of April, 2007 4 The words, " the 6th day of the following month, if the duty is paid electronically through int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted 17-3-2012, before it was read as, "Section 11AB" 9. Substituted vide Notification No. 15/2013 - Central Excise (N.T.) dated November 22, 2013 w.e.f. 1st day of January, 2014, before it was read as, "rupees ten lakh" 10. Omitted vide Notification No. 19/2014 - Central Excise (N.T.), dated 11th July, 2014 with effect from the 1st October , 2014. Before it was read as, "3[Provided also that an assessee, who has paid 6[total duty of 9[rupees one lakh] or more including the amount of duty paid by utilization of CENVAT credit in the preceding financial year], shall thereafter, deposit the duty electronically through internet banking.]" 11. Inserted vide Notification No. 19/2014 - Central Excise (N.T.), dated 11th July, 2014 with effec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l be paid by the 31st March, 2002. Explanation.- For removal of doubts, it is hereby clarified that the duty liability shall be deemed to have been discharged only if the amount payable is credited to the account of the Central Government by the specified date." 15. Substituted vide Not. 26/2015 - Dated 18-12-2015, before it was read as, "State of Tamil Nadu" 16. Substituted vide Not. 08/2016 - Dated 1-3-2016, w.e.f. 1.3.2016, before it was read as, "Explanation.1. - For the purposes of this proviso, it is hereby clarified that an assessee shall be eligible, if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year, computed in the manner specified in the said notifi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
