I Paid the VAT Dues for the month of Jan 2013 on 10th April 2013. But at the time of payment I made only VAT payment and not paid the Interest. now I am paying the interest amount.
now my questing is - I have to pay this interest amount with PENAL INTEREST or pay only basic Interest ?
please help me urgent, because my 'C' form is pending due to this payment.
17 July 2013
There is no interest on interest. That is,interest is payable only once i.e basic interest. Now interest is payable upto the main tax payment i.e 10th April 2013 and not after that.
CAclubindia
