Home Case Index All Cases VAT and Sales Tax VAT and Sales Tax + SC VAT and Sales Tax - 2011 (4) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (4) TMI 1053 - SUPREME COURTWhether the appellant is liable to pay interest on the tax due under section 8(1) of the Act, i.e., at two per cent per mensem from the date the tax was due or under section 8(1B), i.e., at 1.5 per cent per mensem from the date of the assessment order and demand notice - Held that:- where a dealer fails to pay tax at the correct rate because he claimed not to know the revision in the rate, the dealer remains liable to pay interest at a higher rate, the penal rate under section 8(1) from the date when the tax became due and payable. In such a case, the dealer cannot claim that he is liable only from the date of the assessment order fixing the correct rate of tax. Similarly, in a case where the dealer has taken a chance and it has been held that the tax is payable under Act, the same becomes payable from the date when it was due, appeal dismissed
|