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State of Tamilnadu - Section
Section 7 in Tamil Nadu Tax on Consumption or Sale of Electricity Rules, 2003
7. Rate of interest.
- The rate of interest payable under clause (a) of section 7 of the Act is twelve percent per annum for each calendar month of delay. The licensee shall credit such interest into the Government Treasury under the Head of Account: -| Major Head | : 0043 Taxes and Duties on Electricity |
| Minor Head | : 101 Taxes on Consumption and Sale ofElectricity |
| Sub Head | : AC Receipts under the Tamil Nadu Tax onConsumption or Sale of Electricity Act, 2003 |
| Detailed Head | : 03 Interest on belated payments. (DPC 0043 00101 AC 0305) |