INTEREST PAYMENT

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..... INTEREST PAYMENT
Query (Issue) Started By: - SACHIN SHAH Dated:- 16-7-2011 Last Reply Date:- 17-7-2011 Central Excise
Got 2 Replies
Central Excise
sIR, Our one unit located at surat and .....

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..... 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 ( five lacs ) after 31-03-2011 . Please g .....

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..... ive effect of interst payemtn . Please give interest % how interst payment liable . Regards, SACHIN Reply By pradeep khatri: The Reply: Before budget interest was @ 13% up-to 31-03-2011 and from 0 .....

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..... 1-04-2011 interest is @ 18%. Reply By ROHAN THAKKAR: The Reply: Dear Sir, It has been clarified vide circular No 942/03/2011-CX dated 14-03-2011 read with the Judgement of Supreme Court in the cas .....

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..... e 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 cenvat credit till the date of actual payment. The interest is re .....

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..... quired 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)
Discussion Forum - Knowledge Sharing .....

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