Section 31 in Mineral Area Development Authority Market Fee Rules, 2010
31. Interest.
(1)Where the return under rule is furnished after the due date, or is not furnished, the assessee shall be liable to pay simple interest at the rate of 2 percent for every month or part thereof comprised in the period, commencing on the date immediately following the due date and,(a)Where the return is furnished after the due date, ending on the date of furnished of the return, or(b)Where no return has been furnished, ending on the date of completion of the assessment, on the amount of the fee as determined.(2)If the amount specified, in any notice or demand under Rule 27 is not paid within the specified period the assessee shall be liable to pay simple interest @ 2% for every month or part thereof comprised in the period commencing from the date immediately following the specified date and ending with the day on which the amount is paid.
