interest rate on vat tax paid by late

[Guest]

we paid may-12 vat tax on aug-2013 . what is the interest rate applicable

[YAGAY andSUN]

1.5% p.m.

[PARVEEN ARORA]

Interest Pyabale on delayed payment of tax is 15% p.a simple interest calculated on daily basis as per the chapter INTEREST & PENALTIES

[Dhanesh Kabadi]

Dear Sir, this liability will arise from the date of invoice ? & interest is 1.25 percent P.A. ?Pls. shared the Link.

[Guest]

FOR SAD REFUND CLEARENCE FROM TUGLAKABAD, PATPARGANJ< MUNDRA, AIRPORT ICD

CONTACT ME:

TARUN SHARMA

MOBILE: 8285831641/8126116503

AI Summary

Interest on delayed VAT payment: adviser responses conflict on monthly versus annual interest, causing rate uncertainty. A taxpayer asked the applicable interest rate for late VAT payment. Forum replies diverge: one suggests 1.5% per month; another cites 15% p.a. as simple interest calculated on a daily basis referencing the chapter INTEREST & PENALTIES; a third questions invoice-date accrual and proposes a different annual rate. One reply is unrelated contact information.