Interest on vat payment
This query is : Resolved
sayyad muniruddin
(Querist)
25 May 2011
My Vat liability for the month of April is RS 460500/- I paid vat amount on 25/5/2011 , Please calculate the exact amount of interest which I have to pay? because I am confused Int.@1.25% p.m should be devided by 365 x 5 or divided by 12
25 May 2011
The interest amount in your case shall be Rs. 5756.00.
The interest rate is 1.25% p.m. Any part of the month is considered as full month.
The interest rate is 1.25% p.m. Any part of the month is considered as full month.
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