Due date for payment of tax

1. (1) The tax payable in respect of a tax period along with a return and the tax assessed under the Act shall be payable in such manner and within such time as may be prescribed.
2. (2) If any dealer fails to pay the tax due on the basis of return submitted by him or fails to pay any tax assessed or penalty levied or any other amount due under the Act, within the time prescribed or specified there for, he shall pay, in addition to the amount of such tax or penalty or any other amount, interest calculated at the rate of one percent per month for the period of delay from such

prescribed or specified date for its payment. The interest in respect of part of a

month shall be computed proportionately and for this purpose, a month shall mean a period of 30 days.

1. (3) In the case of a dealer executing works contract for Government or local authority, a tax at the rate of 4% shall be deducted from the amount payable to him and such contractee deducting tax at source shall remit such amount in the manner as may be prescribed.
2. (4) In case of (a VAT dealer) a dealer executing works contract (for a company) for Central Government or a Company or a statutory body or an undertaking or an

institution other than Government or local authority irrespective of the quantum

of value of the contract or for any other dealer or a firm where the value of the contract exceeds Rs.10,00,000/- (Rupees ten lakhs only), a tax (at the rate of 2%) at the rate of four percent (4%) shall be deducted from the amount payable to him and such contractee deducting tax at source shall remit such amount in the manner as may be prescribed.

1. (5) Where a VAT dealer paid entry tax on any goods under Andhra Pradesh Entry Tax on entry of Motor Vehicles into Local Areas Act 1996 and Andhra Pradesh Tax on Entry of goods into Local Areas Act 2001, such amount shall be adjusted against VAT payable provided the credit for input tax is not restricted under *(....) Section 13 of the Act. (6)
   • (a) The Deputy Commissioner, on an application made by a VAT dealer or any other dealer, permit the payment of any tax, penalty or other amount due under the Act in such instalments within such intervals and subject to such conditions, as he may specify in the said order, having regard to the circumstances of the each case;
   • (b) Where such payment in instalments is permitted, the dealer shall pay in addition to such tax, penalty, instalment or other amount, interest at the rate of one percent per month for the amount for the period from the date specified for its payment on the instalments so permitted.
2. (7) Any person required to deduct tax at source under sub-sections
3. (3) and (4) fails to deduct or to remit such tax shall be liable to pay interest at the rate of twelve percent (12%) per annum for the delayed period.