Hi Friends,
1. Let me know how to calculate interest on late payment of vat i.e Apr'08 Vat is due on 21.05.08 but due to some problem i failed to filed Vat return on time. Now i have filed on 15.06.2008 then how to calculate interest on above conditions as it is under M.V.A.T. & at what rate interest is applicable.
If you have excel file for interest Calculation then you post in share files?
Regards
Sanjiv
Dear Sanjiv,
The Interest will be charged @ 1.25% per month from the due date, in your case one months interest will be chargeble to you under MVAT.
Thanks Mr. Biren,
But how you have calculated one months, is it from due date i.e 21.05.2008 - 15.06.2008 then it doesn't come to one month.
please if you can provide me in excel format ----
vat payment ---- due date ----- paid date ------- late days ------- interest.
Regards
Sanjiv.
Dear Mr. Sanjiv,
It is not depends on days it is only months if you late by one day than you have to pay interest for the 1 month.
Hi friends
If u have a exel file of form no. 221 of m vat act please send me the one.
Regards
vishal
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| Originally posted by :biren thakkar | ||
| " | a am not paid any vat during the 1-4-2007 to 31-3-2008 so now I want to pay what will be interet for first 6 month or penallty | " |
interst on vat late payment
| Originally posted by :DHAVAL PATEL | ||
| " | interst on vat late payment | " |
ok Can the interest paid on delay of payment of VAT shown in P&L a/c?
IT SAYS INTEREST IS PAYABLE @ 1.25% PER MONTH OR PART OF THE MONTH ON TAX AMOUNT STARTING FROM THE DUE DATE.
any one can say that what exactly rate of interest on late payment of vat in Utter pradesh?
vat payment ---- due date ----- paid date ------- late days ------- interest.rate
urjent friends
hello sir,
As we have paid vat litle for some day late 4 to 5 day ,as cansultation advice pay interest @ 15% per annum but calculated as per day, i.e. suppose paid late for 4 days he calculated only for 4 day interest i.e.15% devided by 365 days multiplie 4 days. Is this carrect calculation please advice.
tnvat late payment interest rate
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