| Interest Rates notified under Maharashtra Profession Tax | |||||||||||
| Interest on Taxes payable | |||||||||||
| Sr No | Provision of Profession Tax Act | Default Description | Rate of Interest | ||||||||
| 1 | U/s 9(2) Rule 11C-1 |
An Employer liable to pay the taxes, fails to pay the tax within stipulated time for each month or part thereof, after the last date by which he should have paid the tax |
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| 2 | U/s 9(3) Rule 11C-1 |
An Enrolled Person liable to pay the taxes, fails to pay the tax within stipulated time for each month or part thereof, after the last date by which he should have paid the tax | |||||||||
| 3 | U/s 9(2A) Rule 11C-1 |
An Employer in whose case amount of tax as assessed under section 7 or as found payable in view of an order passed under section 13 or 14 is more than the amount of tax paid by the employer, on the amount of difference of tax | |||||||||
| 4 | U/s 9(3A) | A person, liable to get enrolled, fails to apply for certificate of enrolment within the period specified under this Act, he shall be liable to pay simple interest on the amount of tax payable, from the 1st July of that year, till the date of payment of such tax. | @1.25% per month or part thereof | ||||||||
| Interest on Refund receivable | |||||||||||
| Sr No | Provision of Profession Tax Act | Particulars | Rate of Interest | ||||||||
| 1 | U/s 19A | Where refund of any tax becomes due to an employer or person interest for the period commencing on the date next following the last date of the period of assessment to which such order relates and ending on the date of such order or for a period of 18 months, whichever is less | 6.00% per annum | ||||||||
| 2 | U/s 19B | Where an amount required to be refunded to any employer or person by virtue of an order issued is not so refunded to him within 90 days from the date of the order, a simple interest on the said amount from the date immediately following the expiry of the period of 90 days from the date of such order | 6.00% per annum | BACK | |||||||