Instead of or in addition to any duty leviable under this chapter, the Excise Commissioner may accept payment of a sum in consideration of the grant of the Licence for exclusive privilege under Section 24.
[30-A. Interest payable on failure to pay excise revenue.- If the amount of any duty, fee or other demand due against any person under this Act or the rules made thereunder is not paid till the due date as prescribed, he shall be liable to pay on the amount due simple interest [at such rate, as may be notified by the State Government from time to time]from the day next following the day on which the payment of such duty, fee or demand became due:
Provided that where as a result of any order of the competent authority, the amount on which the interest was payable under this section has been reduced, the interest shall be reduced accordingly and the excess interest paid, if any, shall be refunded.]
[ Explanation. - Where both the excise revenue and interest are outstanding, the part payments made shall be appropriated first towards excise and than towards interest].
[ 30-AA. Power to reduce or waive interest in certain cases:- Notwithstanding anything contained in this Act, the Excise Commissioner may, on an application made in this behalf by licensee and after recording his reasons for so doing, reduce or waive the amount of any interest payable by the Licensee under this Act, if he is satisfied that
(a) to do otherwise would cause genuine hardship to the Licensee having regard to the circumstances of the case; and
(b) the Licensee has co-operated in any proceeding for the recovery of any amount due from him. ]