Section 34 in West Bengal Value Added Tax Act, 2003
34. Interest for nonpayment or delayed payment of assessed tax.
(1)Where a dealer fails to make payment of any tax due after provisional or other assessments by the date specified in the notice issued under section 45 or section 46 or section 48 for payment thereof, he shall, subject to the provisions of sub-section (2) , pay a simple interest at the rate of twelve per centum per annum for the period of default, calculated from the date next following the date specified in such notice upto the date of full payment of such tax or upto the date preceding the date of commencement of proceedings under section 55, whichever is earlier upon so much of [the amount of tax due from him] [Substituted by S. 6 (11) (a) of W.B. Act XIII of 2005 w.e.f. 1.4.2005 for 'the amount of tax payable by him'.] according to such notice as remains unpaid.(2)Where as a result of an order under section 84, section 85, section 86, section 87 or section 88 [the amount of tax due is modified] [Substituted by S. 6 (11) (b) of W.B. Act XIII of 2005 w.e.f. 1.4.2005 for 'the amount of tax payable is modified'.], the interest payable under sub-section (1) shall be determined or re-determined on the basis of such modified amount and the excess interest paid, if any, shall be refunded.(3)[ Where as a result of an order under section 84, section 85, section 86, section 87 or section 80 the amount of tax due is modified as stated in subsection (2) , the interest shall be payable at the rate of twelve per centum per annum for the period of default, calculated from the date next following the date specified in the notice original issued under section 45 or section 46 or section 48 for payment thereof upto the date of full payment of such tax due or upto the date preceding the date of commencement of proceedings under section 55, whichever is earlier, upon so much of the amount of modified tax due as remains unpaid.] [Inserted by S. 6 (11) (c) of W.B. Act XIII of 2005 w.e.f. 1.4.2005.]
