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About intrest rate in vat

This query is : Resolved 
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(Querist)
26 April 2013 As per rule 88,The rate of interest to be charged is 1.25 % p.m.or part of the month thereof.Should we calculate day wise delay or month wise interest even for 1 day of delay
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
14 July 2013 It is monthly basis.

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