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Late payment interest code

This query is : Resolved 
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(Querist)
25 July 2012 Hello,

please guide eligiblle for settoff under MVAT towards purchase of new machinery
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RENGARAJ R.K

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RENGARAJ R.K (Expert)
02 August 2012 Please see the section 11AB for late payment. It is 18% per annum to be calculated from the date of original duty due to the date of payment.
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