Section 8A in The Maharashtra Motor Vehicles Tax Act, 1958
8A. [ Interest to be paid, if tax is not paid within time limit. [Section 8A was inserted by Maharashtra 22 of 1979, Section 6.]
(1)If any tax due in respect of any motor vehicle is not paid in time as provided by or under this Act, by any person liable for the payment thereof, such person shall be liable to pay, in addition to the tax payable, an interest form the first day of the period for which the tax is due.(2)[ The interest payable under sub-section (1) shall be calculated for each calendar month or part thereof, during which the tax remains unpaid, at the rate of 2 per cent of the amount of tax in default:Provided that, the amount of interest payable under this section shall not exceed the amount of tax in default](3)In calculating the amount of interest payable under sub-section (1), the fraction of a rupee less than fifty paise [shall be ignored and the fraction of fifty paise or more] [These words were substituted for the words 'shall be taken as fifty paise and the fraction exceeding fifty paise' by Maharashtra 9 of 1989, Section 5(b).] shall be taken as a rupee.(4)The Transport Commissioner may, for reasons to be recorded in writing and subject to such conditions as may be prescribed, remit the whole or any part of the interest payable under this section in respect or any specified period.]
