Maharashtra Value Added Tax Rules, 2005
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Body 88. Rates of interest

(1) The rates of interest for the purposes of sub-sections (1), (2) and (3) of section 30 shall be as specified in the table below :-

TABLE

Sr. No.	Period, liable for interest	Rate of interest
1	2	3
1	Upto One Month	One and a quarter per cent of the amount of such tax, for the month or for part thereof.
2	Upto three Months	One and a quarter per cent of the amount of such tax, for the month or for part thereof for the first month of delay and one and a half percent of the amount of such tax, for each month or for part thereof for delay beyond one month up to three months.
3	More than three months	One and a quarter per cent of the amount of such tax, for each month or for part thereof for the first month of delay, one and a half per cent of the amount of such tax, for each month or for part thereof for delay beyond one month upto three months and two per cent of the amount of such tax, for each month or for part thereof for the period delay beyond three months."

(2) The rate of interest for the purposes of Section 52 shall be half per cent of the amount of such tax for each month or for part thereof.

(3) The rate of interest for the purposes of the sub-section (1) of Section 53 shall be half per cent. of the amount of such refund for each month or for part thereof.

(4) The rates of interest specified in sub-rule (1), shall mutatis mutandis, apply for the purposes of clause (b) of sub-section (6) of section 51.