matter of calculation

This query is : Resolved

Guest

Guest (Querist)

13 November 2010 good morning sir, sir clear my this query -sir plz tell me the calculation of cst int.rate is 1.25% in uttarakhand. supose i m late & i m deposit it after 3 days(after due date) than how i do calculate it.my cst for the month of october is 989111 i m late to deposit only 3 days.than how i will calculation of this.plz tell me calculation
989111*1.25/100*3/365---102 or
989111*1.25/100-12364
in both calculation which calculation is right.plz sir reply.in this query some expert tell me that the calculation is

989111*1.25/100/31*3-1196.
but sir as per my knowledge calculation is

989111*1.25/100-12364.
than sir plz clear my doubt..

Manoj Garg

Manoj Garg (Expert)
Follow

13 November 2010 As per Interest on VAT is concern, it is calculated on the basis of delayed days. The Interest 1.25 is monthly therefore Interest Rs. 1196.00 is correct.