38. Payment of interest for delayed payment of tax or non-payment of tax as per returns furnished before assessment. –

(1) Every dealer required to pay interest under sub-section (1) of section 34, in respect of any tax period, shall pay such interest at the time of making payment of tax, payable in respect of such tax period, or the date of assessment, whichever is earlier.

(2) The dealer shall furnish a statement showing details of calculation of the amount of interest payable as referred to in sub-rule(1) and furnish such statement along with the receipted challan or crossed demand draft or banker' cheque evidencing payment of such interest.