Interest under MVAT

This query is : Resolved 

28 June 2010

how to calculate interest under the provisions of Maharashtra VAT for late payment of taxes..if due date is 21st june and i pay on 2nd july whether i have to pay interest for 11 days or otherwise two months?

seema chouhan (Expert)
29 June 2010

you have to pay interest for 11 days only

(Interest rate is 1.25% per month)

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