Interest If VAT Amount not paid on Due date - AP VAT

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..... Interest If VAT Amount not paid on Due date - AP VAT
Query (Issue) Started By: - guna ch Dated:- 1-1-2013 Last Reply Date:- 1-1-2013 VAT + CST
Got 1 Reply
VAT / Sales Tax
Dear Sir Can a .....

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..... ny one advise me what is the interest rate if assessee not paid the VAT amount on due date and what are the due dates to pay the VAT amount , either before Submission of VAT Return or After Submission .....

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..... of VAT Return. Reply By Pradeep Khatri: The Reply: It is @15%, simple interest computed on a daily basis. Under Section 51(1), if there is a failure to pay the tax due as per the return filed then .....

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..... penalty would be levied @ 10% of the tax amount.
Discussion Forum - Knowledge Sharing .....

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