Effective 1st April 2011, the Central Government has notified the rate of interest at 18% for non payment or short payment of excise duty under Section 11AB of the Central Excise Act 1944.
File no. 334/3/2011 – TRU
No. 6/2011-Central Excise (N.T.)
New Delhi, the 1stMarch, 2011
G.S.R. (E).” In exercise of the powers conferred by section 11AB of the Central Excise Act, 1944 (1 of 1944 and in supersession of the notification of the Government of India in the Ministry of Finance(Department of Revenue) No.66/2003-Central Excise(N.T.), dated the 12th September, 2003 [GSR (E), dated the 12th September, 2003], except as respects things done or omitted to be done before such supersession, the Central Government hereby fixes the rate of interest at eighteen percent. per annum for the purposes of the said section.
This notification shall come into force from the 1stday of April, 2011.
Sanjeev Kumar Singh
Under Secretary to the Government of India