Section 24(10) in The Bihar Value Added Tax Act, 2005
(10)If a dealer, required to furnish the return under sub-section (1) or statement under sub-section (4), fails to pay the amount of tax payable according to the provisions of sub-section (9), such dealer shall be liable to pay interest-(a)in respect of tax payable under sub-section (9), by him in accordance with the return or the quarterly abstract statement or revised return, as the case may be; or(b)in respect of the tax payable for the period for which he has failed to furnish returns under sub-section (1) or quarterly abstract statement under sub-section (4), at the rate of one and a-half per cent. per month of the amount due from the date the tax so payable had become due to the date of its payment.Explanation. - For the purposes of this sub-section-(i)where the period of default in payment of tax covers a period less than a month, the interest payable on such tax in respect of such period shall be computed proportionately;(ii)"month" shall mean thirty days.
