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Karnataka vat

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(Querist)
28 August 2012 Dear all,

Under VAT laws when we are paying interest for late filing, how to calculate the interest amount?
whether after adjusting the input credit or on whole output tax?(before adjusting the input credit on purchase)
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Ankit Varia

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Ankit Varia (Expert)
01 September 2012 Ravi,

Interest is calculated after adjustment of input vat credit.

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