Charges are levied on the consumers by the utility on the difference between lower assessment and actual consumption. This is a debit amount. It is calculated at 1 monthly SBI MCLR rate of 6.95% applied on the difference of actual and assessed bill amounts.
An Example is as follows:
a. Assessed bill for April 20 = ₹2000
b. Assessed bill date: 30.04.2020 Due Date: 21.05.2020
c. Paid on 20.05.2020 - ₹2000/-
d. Revised bill for April 20 = ₹2500/-
e. Revised Bill date: 28.05.2020
f. No. of days = (Revised bill date- Assessed bill date) so 28.05.20- 30.04.2020=28
g. Carrying cost = (2500-2000) * 6.95%* 28/365 = ₹2.67
Formula for carrying cost = (difference between actual & assessed bill) *6.95%*days/365