Rate of interest payable on late payment of tax by the dealers has been fixed @ 15% with effect from 25.04.2005 - F.101 (327)/2005-Fin. (A/Cs) (ii)/312 - Delhi Value Added Tax
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Interest on late tax payment prescribed under statute; notified rate applies immediately to dealers' VAT liabilities. The notification prescribes an annual rate of interest for delayed payment of tax by dealers under sub section (2) of section 42 of the Delhi Value Added Tax Act, 2004, fixing the statutory interest rate to be applied to late VAT payments and declaring that the rate takes effect immediately from the date specified in the notification.
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 late tax payment prescribed under statute; notified rate applies immediately to dealers' VAT liabilities.
The notification prescribes an annual rate of interest for delayed payment of tax by dealers under sub section (2) of section 42 of the Delhi Value Added Tax Act, 2004, fixing the statutory interest rate to be applied to late VAT payments and declaring that the rate takes effect immediately from the date specified in the notification.
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