20 March 2015
For Ltd.Company, payment of Gujarat VAT is to be made on or before 22 days of nect month. Hence for G-VAT payment for the month of Feb-15, one has to make payment online by 22.03.2015 (Sunday).
My question is as 22.03.2015 is Sunday, can we make payment on 23.03.2015???
and if payment on 23.03.2015 made it will be treated as regular payment & not delay payment???
20 March 2015
01. For online payment. there is no any question of holiday.
02. For RTGS, NEFT, but for sure, there is the question of holiday.
03. Most of the times, Govt issues notification stating that the banks will remain open on such a deadline day being holiday.
04. The general rule observed in banking is that....under such situation the date shall be ... next day for returning FD by bank and earlier day for receiving loan repayment.
If I make payment online on 22.03.2015 (Sunday) VAT authority will consider that payment on 22.03.2015 only & not on 23.03.2015. Upto which time on 22.03.2015, we can make payment online??? i.e. in Service Tax allowed time is 08:00 PM
Is it allowed to make payment by VAT authority on 23.03.2015 because 22.03.2015 is Sunday????
09 August 2024
In the context of VAT (Value Added Tax) and other tax payments, including Gujarat VAT, there are specific rules regarding payment deadlines and holidays. Here’s a detailed explanation based on the scenario you described:
### Payment Deadline and Holidays
1. **Payment Deadline on Weekends and Holidays:** - **General Rule**: If the due date for a tax payment falls on a weekend or a public holiday, the payment is usually allowed to be made on the next working day without any penalty or late fees. - **Specific Scenario**: In your case, the payment due date for Gujarat VAT for February 2015 is March 22, 2015, which is a Sunday.
2. **Making Payment on March 23, 2015:** - **Acceptance**: You can make the payment on March 23, 2015 (Monday), as March 22 is a Sunday. Payments made on the next working day are generally considered timely, and there should not be any penalty for late payment.
3. **Online Payment Time:** - **Cut-off Time**: For online payments, it is important to check if there is a specific cut-off time set by the VAT authorities or the payment gateway. Typically, online payments made on the due date are considered valid if processed before the end of the banking hours of that day. - **Service Tax Comparison**: For Service Tax, the cut-off time was often 8:00 PM, but VAT authorities might have different cut-off times. It's best to check with the Gujarat VAT department or the specific online payment portal used for any cut-off time for online payments.
4. **Payment Considered on Due Date:** - **On Due Date Payments**: If you make the payment online on March 22, 2015 (Sunday), it would be recorded as being made on that date, provided the online system allows transactions on weekends and holidays. - **Delayed Payment**: If you make the payment on March 23, 2015, it should generally be treated as a timely payment because the due date falls on a weekend. However, you should ensure the payment is completed on March 23 before the end of the business day.
### Practical Steps
1. **Verify Cut-off Time**: Check with the Gujarat VAT department or the online payment system to confirm if there is a cut-off time for transactions and whether payments on weekends are processed on the due date.
2. **Confirm Payment Status**: Ensure that the payment is confirmed and the receipt is obtained as proof of payment on the respective date.
3. **Consult VAT Authority**: If in doubt, consult the Gujarat VAT authority or your tax advisor to confirm the exact procedure and any specific rules related to payment deadlines and holidays.
### Summary
- **Payment on March 23, 2015**: Making the payment on the next working day (March 23) is acceptable and should not be considered as a delayed payment. - **Payment on March 22, 2015**: If you choose to make the payment on March 22 (Sunday), it should be processed as being on the due date, provided the online system supports transactions on weekends.
For precise and authoritative guidance, always refer to the official VAT authority's rules and consult with a tax professional if needed.
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