Interest on lbt
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 January 2014
If suppose a dealer wants to pay LBT for the month of Oct, 2013 in the month of Jan, 2014 an interest @ 2% should be required to pay on LBT Liability after the 10th of Nov, 2013. Whether I should calculate interest on all the months of nov, dec and jan, 2014 considering the part of the month as whole month or I should calculate on late days i.e., from 11th Nov, 2013 till today. Please reply.
If suppose a dealer wants to pay LBT for the month of Oct, 2013 in the month of Jan, 2014 an interest @ 2% should be required to pay on LBT Liability after the 10th of Nov, 2013. Whether I should calculate interest on all the months of nov, dec and jan, 2014 considering the part of the month as whole month or I should calculate on late days i.e., from 11th Nov, 2013 till today. Please reply.
24 January 2014
No Interest should be on the basis of month where even part of month shall be taken as full
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