Interest If VAT Amount not paid on Due date - AP VAT

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....nterest If VAT Amount not paid on Due date - AP VAT<br> Query (Issue) Started By: - guna ch Dated:- 1-1-2013 Last Reply Date:- 1-1-2013 VAT + CST<br>Got 1 Reply<br>VAT / Sales Tax<br>Dear Sir Can an....

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....y one advise me what is the interest rate if assessee not paid the VAT amount on due date and what are the due dates to pay the VAT amount , either before Submission of VAT Return or After Submission ....

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....of VAT Return. Reply By Pradeep Khatri: The Reply: It is @15%, simple interest computed on a daily basis. Under Section 51(1), if there is a failure to pay the tax due as per the return filed then ....

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....penalty would be levied @ 10% of the tax amount.<br> Discussion Forum - Knowledge Sharing ....