Interest for non payment or delayed payment of tax under Punjab VAT Act 2005

0 comments Sunday, May 22, 2011
Tax under any act should be deposited with the exchequer within time prescribed under such act otherwise there is generally a provision for payment of simple interest along with the tax. Section 32 of Punjab VAT Act 2005 provides for payment of simple interest along with tax due  if there is non payment or delayed payment of tax under the Act. The provisions of section 32 can be discussed as follows:

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