Interest on delayed tax payments accrues from date of default and must be calculated and included in the assessment notice. A dealer in default must pay simple interest from the date of default, computed daily at the notified annual rate; further tax assessed is due on the same date the net tax was due, and interest on that further tax must be calculated for the period of default and included by the Commissioner in the assessment notice. Provisions for delayed payment and interest under the DVAT law apply to Central Sales Tax liabilities, so non submission of declaration forms can attract the same interest treatment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest on delayed tax payments accrues from date of default and must be calculated and included in the assessment notice.
A dealer in default must pay simple interest from the date of default, computed daily at the notified annual rate; further tax assessed is due on the same date the net tax was due, and interest on that further tax must be calculated for the period of default and included by the Commissioner in the assessment notice. Provisions for delayed payment and interest under the DVAT law apply to Central Sales Tax liabilities, so non submission of declaration forms can attract the same interest treatment.
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