In rules of MAH Vat it is said that interest on late payment of vat is 1.25% for each month or for part thereof,.
I just wanted to confirm the exact meaning of part there of (Dose it means per day or to round it up to next month).
Man (Accountant) (77 Points)
31 December 2012In rules of MAH Vat it is said that interest on late payment of vat is 1.25% for each month or for part thereof,.
I just wanted to confirm the exact meaning of part there of (Dose it means per day or to round it up to next month).
Vikash Kumar
(Manager Accounts (CA. Final))
(694 Points)
Replied 31 December 2012
Round it to next month.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)