vat payment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 March 2011 i have filed evat return on 21-3-2011 for the month of February 2011.But i have not paid the payable amount in any way.

i am planning to pay the payable amount by 31-3-2011. Shall i pay interest on payable amount. If i further delay upto 30-4-2011 what are the consequences.

kumar

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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21 March 2011 pay your vat with interest. now then firt pay tax then filed return its very important.

Querist : Anonymous

Querist : Anonymous (Querist)

22 March 2011 Sir,
1) If I can pay before 31-3-2011 I will pay the amount along with interest. What is the reate of interest for delay payment.

2) Please advise what are the consequences if i am not able to pay the vat amount before 30-4-2011. Please clarify

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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22 March 2011 there are many type of penalty in vat its different from state to state.
in your case you have already filed evat return so not to be worry for return penalty.
penalty rules,amt & int. rate are different from state to state
I think its @1.5% per month int. pls verify your state rules.
if you are not able to pay bf april end then if your amt. is small then no problem for that but if its higher dept. will demand & also your int. burden will raised.

so, pls carry on your work but abt vat you need to pay vat in due dates & file return in time to avoid your problems.

ok.....don't take so much time to pay tax and give dept. to react on it.

hurry