Easy Office
LCI Learning

interest on delayed payment of vat

This query is : Resolved 
Profile Image

Profile Image

(Querist)
20 January 2011 1)vat , for the month apr10, paid on 22/06/10. then, how much interest should i pay ?

2)vat , for the month apr10, paid on 24/05/10. then, how much interest should i pay ?

3) should i pay interest daywise or monthwise?
Profile Image

B. Gopalkrishna Baliga

Profile Image

B. Gopalkrishna Baliga (Expert)
20 January 2011 it's monthly interest @ 1.25% p.m.
so in your case, it 2 months X 1.25=2.5%

and

1 month X 1.25%= 1.25%
Profile Image

CA CS CIMA Prakash Somani

Profile Image

CA CS CIMA Prakash Somani (Expert)
20 January 2011 interest will be paid monthwise




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links