https://www.taxtmi.com/caselaws?id=274931 Where tax is deducted from contractors' bills under the statutory withholding mechanism, failure to deposit the deducted amount within the prescribed time triggers liability for simple interest under the Tripura VAT Rules. The rules require deposit in the Government Treasury within seven days of the following month, and belated deposit does not remove the statutory consequence once the retention beyond time is admitted or established. The deductor therefore remains liable for interest on the withheld sums until lawful deposit, and the contractors are entitled to recover such statutory interest. en-us Wed, 13 Dec 2017 00:00:00 +0530 Mon, 05 Nov 2018 14:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274931 Where tax is deducted from contractors' bills under the statutory withholding mechanism, failure to deposit the deducted amount within the prescribed time triggers liability for simple interest under the Tripura VAT Rules. The rules require deposit in the Government Treasury within seven days of the following month, and belated deposit does not remove the statutory consequence once the retention beyond time is admitted or established. The deductor therefore remains liable for interest on the withheld sums until lawful deposit, and the contractors are entitled to recover such statutory interest. Case-Laws VAT and Sales Tax Wed, 13 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274931