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Interest on late payment of V.A.T. & C.S.T. ?

Sanjivkumar Shah (Account Manager) (286 Points)

09 February 2008

Hi friends,

I have problem see i have not paid VAT & CST from 1st Apr'2007 till today?

Now how to calculate the interest for late payment of VAT & CST & at what rate?

Please help me out.

Regards

Sanjiv Shah

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11 Replies

MANAS ROUT (CA) (708 Points)
Replied 12 February 2008

1% per month on the amount of vat payable and 2500/- penalty per month for nonfilling of vat monthly return.

2 Like

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debashisdey (Accountant) (27 Points)
Replied 21 August 2009

Hi Frnds

I have Deposited CST payment 2 days late f.y.2007-08, So how could i calculate interest as on 20.08.09 at what rate ?

please help me out .

Debashis

debashisdey (Accountant) (27 Points)
Replied 21 August 2009

Originally posted by :debashisdey
"	Hi Frnds I have Deposited CST payment 2 days late f.y.2007-08, So how could i calculate interest as on 20.08.09 at what rate ? please help me out . Debashis	"

1 Like

ramesh (account officer) (21 Points)
Replied 18 May 2010

what is rate of tax on late payment of d vat & cst

Sagar Tupe (Accountant) (46 Points)
Replied 12 February 2011

What is the rate of interest on late payment of VAT or CST

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Rajan Kumar Chauhan (Accountant) (66 Points)
Replied 13 September 2011

Hi , friends ,

pls. help me , i have some probluem regarding , Late payment of CST, & VAT payment in Uttarakhand . kindly tale me the , fine laived on me or interest rate of late payment .

Sunita (CA) (55 Points)
Replied 08 October 2011

Hi All,

Gud eve!

Friends till 31.3.2011 I was supposed to pay six mnthly vat liability. Now since we have crossed the limit and now need to pay n file quaterly but forgot to file till june.Now we r paying n filing for entire six mnths ie apr to sep. so wat is the consequence re: int , penalty etc. pls tell me its urgent. (apllicable :Maharashtra vat)

Thanks in adv!

CA R MUTHURAJ (MANAGER - TAXATION) (32 Points)
Replied 18 May 2012

As per Sec 43 (3) of Tamil Nadu VAT Act, On any amount remaining unpaid after the date specified for its payment as referred to in subsection (1) or in the order permitting payment in instalments, the dealer or person shall pay, in

addition to the amount due, interest at one and a quarter per cent per month of such amount for the

entire period of default:

Ravi Kedia (Accounts/Finance Executive) (22 Points)
Replied 14 August 2012

Hi ALL,

My client has not received C Form against the sale of goods in other state...so what rate of interest will be paid along with the difference of VAT and CST payable.