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Interest on vat payment

This query is : Resolved 
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(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
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Amol Gopal Kabra (CA,CS,DISA)

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Amol Gopal Kabra (CA,CS,DISA) (Expert)
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.
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