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Late Payment Interest also depends upon state to state


Interest Rate in DVAT

In Delhi,if vat is deposited late,then 15% p.a. interest is applicable from due date


For Example



Vat Computation Of March

Output Vat=10000

Input Vat=7000

Vat Payable

Suppose Vat challan of March paid on 10 May

What is interest payable?



Tax Amount=3000

Due Date=21 April (21st of next month)

Deposit Date=10 May

No of Days Late=19


Total Amount Payable

=Tax+ Interest





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CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 7 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .