Due Date & Procedure for payment of Excise Duty

 

A. Manner of Payment of Excise Duty

Excise Duty can be paid in following manner –

a) By debiting CENVAT Credit Account maintained under provisions of CENVAT Credit Rules.

b) By Debiting account current, also known as Personal Ledger Account [PLA].

B. Due Date For Payment of Excise Duty

 

Category Period of Payment Due Dates (Manual Payment) Due Dates (Electronically Payment)
In case of Small Scale Industrial Units  (i)  April to June  – By 5th July  – By 6th July
 (ii) June to September  – By 5th October  – By 6th October
 (iii) October to December  – By 5th January  – By 6th January
 (iv) January to March  – By 31st March  – By 31st March
Non Small Scale Industrial Units  (i)  April to February  – By 5th of following month  – By 6th of following month
 (ii) March  – By 31st March.  – By 31st March.

Please Note – An assesse who has paid excise duty of Rs.10lakhs or more during immediately preceeding financial year shall pay duty electronically through internet banking.

C. Default/Delay in Payment of Excise Duty

1. INTEREST –  In case of default in payment of excise duty, interest is payable as per the rates mentioned in the below table –

S.No. Extent of Delay Interest rate
1 Six months 18% p.a.
2 More than six month but less than one year 18% p.a. for first 6 months and 24% p.a. for period beyond 6 months
3 More than one year 30% p.a.

2. PENALTY – As per Rule 8(3A), penalty @1% per month is payable for delay in payment of excise duty.

3. If the assessee defaults in payment of duty beyond thirty days from the due date then,  assessee shall pay excise duty for each consignment at the time of removable, without utilizing the CENVAT credit till the date the assessee pays the outstanding amount including interest thereon.

D . PROCEDURE FOR ONLINE PAYMENT OF EXCISE DUTY

  1. Online payment of of excise duty can be made made on CBEC website. Click Here.
  2. To pay Excise Duty and Service Tax online, the Assessee has to enter the 15 digit Assessee Code allotted by the jurisdictional Commissionerate.
  3. There will be an online check on the validity of the Assessee Code entered.
  4. If the Assessee code is valid, then corresponding Assessee details like Name, Address, Commissionerate code  etc. as present in the Assessee Code Master will be displayed.
  5. Based on the Assessee Code, the Duty / Tax i.e. Excise Duty or Service Tax to be paid will be automatically selected.
  6. The Assessee is required to select the Type of Duty / Tax to be paid by clicking on Select Accounting Codes for Excise or Select Accounting Codes for Service Tax depending on the type of Duty / Tax to be paid.
  7. At a time, Assessee can select upto six Accounting Codes.
  8. The Assessee should also select the Bank through which payment is to be made.
  9. On submission of data entered, a confirmation screen will be displayed. If the taxpayer confirms the data entered in the screen, it will be directed to the net-Banking site of the Bank selected.
  10. The taxpayer will login to the net-Banking site with the user ID/ password provided by the Bank for net-Banking purpose and enter payment details at the Bank site.
  11. On successful payment, a challan counterfoil will be displayed containing CIN, payment details and Bank name through which e-Payment has been made. This counterfoil is proof of payment being made.

 

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