THE WEST BENGAL VALUE ADDED TAX ACT, 2003
CHAPTER V: PAYMENT OF NET TAX OR ANY OTHER TAX, INTEREST, PENALTY, FURNISHING OF RETURNS, AND DEDUCTION OF AMOUNT AT SOURCE TOWARDS PAYMENT OF TAX, ETC

Body 34B. Rate of interest Payable

The interest payable for any period by a dealer, casual dealer, transporter, contractee, promoter, or any other person under the Act, shall be at the rate as specified below:-

(a) at the rate of one per centum per month up to the first ninety days of the period for which such interest is payable;

(b) at the rate of one and half per centum per month after the first ninety days and up to three hundred days of the period for which such interest is payable; and

(c) at the rate of two per centum per month after the first three hundred days of the period for which such interest is payable.