Section 32(5) in The Punjab Value Added Tax Act, 2005
(5)The amount of interest payable under this section shall, -(a)be calculated by considering part of a month as one month;(b)for the purposes of collection and recovery, be deemed to be tax under this Act; and(c)be in addition to the penalty, if any, imposed under this Act.Explanation. - If payment of the amount of tax is made by any person through cheque and the same is dishonoured by the bank, it will amount to failure on the part of the person to pay the amount of tax.
