Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News
D. Forum
What's New


Discussions Forum
Home Forum Value Added Tax - VAT-CST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

Interest applicable under TNVAT law, Value Added Tax - VAT-CST

Issue Id: - 106946
Dated: 25-6-2014
By:- yash arya
Interest applicable under TNVAT law

  • Contents

Dear Sir,

Under Sec 42(3) of TNVAT Act, interest is payable on belated payment of tax assessed by AO. In the case of short payment of tax detected during vat audit, whether the auditor has to quantify the interest and report or else leave it to the discretion of  Dept. to recover the interest/penalty ? Kindly clarify with any case law in point/Dept. clarification.

-Shekar Rajagopal

Posts / Replies

Showing Replies 1 to 1 of 1 Records

1 Dated: 29-12-2014

Dear Sir,

If any interest is due on short payment of tax, it is automatic. The assessee is to pay the tax without waiting for any notice from the Department. If there is delay the assessee is to pay interest for such delayed period if also.


Dr. M. Govindarajan


Old Query - New Comments are closed.

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||