Late payment of mvat
This query is : Resolved
Sachin Gadekar
(Querist)
02 June 2013
How to calculate interest on late payment of MVAT?
02 June 2013
Interest is 1.25% Per Month. First calculate the delay in days and apply the rate day wise.
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Sachin Gadekar
(Querist)
03 June 2013
Could you please explain with an example.
04 June 2013
Okey Suppose your due date is 21-4-2013 & you paid vat on 30-5-2013 then delay in day's is 39days. Suppose tax payable is Rs 10,000/- then it will be
([10,000*1.25*12%]/365*39) that is 160.2 Rs.
Hope Now your doubt is clear.
If not you can PM me.
([10,000*1.25*12%]/365*39) that is 160.2 Rs.
Hope Now your doubt is clear.
If not you can PM me.
Message likes :
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Sachin Gadekar
(Querist)
16 June 2013
Thank you Sir.
16 April 2016
@ Rahesh its not daywise but month wise, Reg
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