21 May 2013
Sir, I have to pay monthly VAT on 20th of every month, but due to some unavoidable reasons I could not be able to pay tax in time. Only 1 day delayed for the payment. But VAT people asking to pay penalty @ 5% on tax amount + Rs.50/- per day from due date + interest @ 1.5% per month from due date till payment. Kindly suggest me. This case is related to Karnataka State
CAclubindia
