Section 22(2) in Telangana Value Added Tax Act, 2005
(2)If any dealer fails to pay the tax due on the basis of return submitted by him or fails to pay any tax assessed or penalty levied or any other amount due under the Act, within the time prescribed or specified therefor, he shall pay, in addition to the amount of such tax or penalty or any other amount, [interest calculated at the rate of one and quarter (1.25%) percent per month] [Substituted by Act No.21 of 2011.] for the period of delay from such prescribed or specified date for its payment. The interest in respect of part of a month shall be computed proportionately and for this purpose, a month shall mean a period of 30 days.
