Order of application of payments prioritises interest, then penalty, then tax across VAT and central sales tax liabilities. Payments or recoveries by a person owing amounts to the Commissioner are applied first to interest, then to penalty, and then to tax under the Delhi Value ... Summary
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Order of application of payments prioritises interest, then penalty, then tax across VAT and central sales tax liabilities.
Payments or recoveries by a person owing amounts to the Commissioner are applied first to interest, then to penalty, and then to tax under the Delhi Value Added Tax Act, 2004; thereafter the same sequence (interest, penalty, tax) is applied to liabilities under the Central Sales Tax Act, 1956.
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