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Int & penalty query on late submission of monthly return

This query is : Resolved 
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(Querist)
21 May 2013 Sir,
I have to pay monthly VAT on 20th of every month, but due to some unavoidable reasons I could not be able to pay tax in time. Only 1 day delayed for the payment. But VAT people asking to pay penalty @ 5% on tax amount + Rs.50/- per day from due date + interest @ 1.5% per month from due date till payment. Kindly suggest me. This case is related to Karnataka State
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
03 July 2013 Yes. according to KVAT applicable penalty. request the LVO for waive off penalty and pay the interest & Rs.50 return penalty only
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