Section 33(1) in West Bengal Value Added Tax Act, 2003
(1)Where a dealer required to furnish return under sub-section (1) of section 32, furnishes return in respect of any return period by the prescribed date or thereafter but fails to make full payment of net tax payable, under subsection (2) of section 32, in respect of any tax period within such return period by the prescribed date, he shall pay a simple interest at the rate of twelve per centum per annum for the period commencing on the date immediately following the prescribed date for payment of net tax and upto the date prior to the date of payment of such net tax or, [upto the date preceding the date of commencement of proceeding under section 55] [Substituted w.e.f. 01.04.2005 by S. 12(17) of WB Act XVIII of 2006 for 'upto the date of commencement of proceeding under section 55'.] or, upto the date prior to the date of provisional assessment under section 45 or assessment under section 46 or section 47 or section 48, as the case may be, whichever is earlier, in respect of such return period upon so much of the amount of net tax payable by him according to such return as remains unpaid:Provided that where such dealer admits in writing that the amount of net tax payable in respect of any such tax period within the return period is an amount which is either more or less than what has been original shown as payable in the return and where the Commissioner is satisfied on the point of such admission, the interest shall be payable upon so much of the amount of net tax payable for such tax period according to such admission as remains unpaid.
