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Penalty and Interest for late payment of Vat
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The due date for payment of vat is 20th of the month. But what is the penalty and interest if we pay vat after the due date.
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    VAT is a state tax. The interest on delayed payment is @ 1.25 % per month.

    G. K. Ajmani Tax consultant
    http://gkajmani-mystraythoughts.blogspot.com/

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    You are penalizing penalty by misspelling it as 'penality'!!! :lol: :lol: :lol: :lol: :lol:
    Thank you said by: sreevani
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    You are penalizing penalty by misspelling it as 'penality'!!! :lol: :lol: :lol: :lol: :lol:[/quote

    Thank you. I shall correct this by edit.

    G. K. Ajmani Tax consultant
    http://gkajmani-mystraythoughts.blogspot.com/

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    There is a huge debate whether physical punishments should be given to school children or not and everyday we come across about this or that in the newspaper and medias that very often the students are punished and tortured by their teachers. There are a section of people who thinks that physical punishments should not be given to the scholl children and rather it should be dealth with by having a cool chat with the kids while there is another section of people who thinks that in some cases it becomes necessary. So this very poll is about the same and lets find out what the members of this site thinks about the same.

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    [{"id":21148,"title":"Sometimes it is necessary.","votes":45,"type":"x","order":0,"pct":34.88,"resources":[]},{"id":21149,"title":"It is an integral part of education and helps the students to become physically strong.","votes":8,"type":"x","order":0,"pct":6.2,"resources":[]},{"id":21150,"title":"It totally depends upon the type of offence committed by the students.","votes":24,"type":"x","order":0,"pct":18.6,"resources":[]},{"id":21151,"title":"Physical abuse is not good and I believe that teachers should try to speak with the students to sort this out like little adults.","votes":52,"type":"x","order":0,"pct":40.31,"resources":[]}] ["#ff5b00","#4ac0f2","#b80028","#eef66c","#60bb22","#b96a9a","#62c2cc"] ["rgba(255,91,0,0.7)","rgba(74,192,242,0.7)","rgba(184,0,40,0.7)","rgba(238,246,108,0.7)","rgba(96,187,34,0.7)","rgba(185,106,154,0.7)","rgba(98,194,204,0.7)"] 350
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