05 August 2014
Let me know what is the procedure to calculate the interest of late payment of vat.From four months we didn't pay vat amount.what is the rate and how to calculate the interest.
05 August 2014
Interest is to be calculated at applicable rate on daily basis. If you have not paid VAT for 4 months, then calculate the number of days of delay and calculate the amount of interest on that figure.
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