Section 47(2) in The Karnataka Value Added Tax Act, 2003
(2)If default is made in payment of the amount in accordance with sub-section (1), -(a)the whole of the amount outstanding on the date of default shall become immediately due and shall be a charge on the properties of the dealer;(b)the dealer liable to pay the amount shall pay interest at the rate of two per cent of such amount for each month of default and(c)the whole of the amount remaining unpaid along with the interest calculated under clause (b) of this sub-section shall be recoverable in the manner specified in Section 42.
