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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Delhi VAT Dealers Face Daily Interest for Late Tax Payments u/s 42(2) and Rule 36.</h1> A dealer registered under the Delhi Value Added Tax Act, 2004 must pay tax within 21 days of the end of their tax period. If a dealer defaults on payment, Section 42(2) mandates simple interest on the unpaid amount, calculated daily from the date of default. Section 32(3) states that additional assessed tax is due on the same date as the net tax. Rule 36 of the DVAT Rules specifies interest calculation from the default date, included in assessment notices. These provisions also apply under the Central Sales Tax Act, 1956. Assessing Authorities must enforce interest liabilities for non-compliance.
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