5% penalty
A 5% penalty of the F1 Cess payable shall be imposed.
2% additional penalty
An additional 2% penalty may be imposed:
60 days after the 5% penalty for late payment is imposed, and
Calculated immediately after the F1 Cess became payable, and
For every completed month that the F1 Cess remains outstanding, and
- Total additional penalty shall not exceed 50% of F1 Cess outstanding.