Rajasthan Sales Tax Act,1994
Section 58. Interest on failure to pay tax or other sum payable
(1) Where a dealer or a person commits default in making the payment of any amount of tax leviable or payable or of any amount of tax leviable or payable or of any amount of tax, fee, interest or penalty assessed or determined or of any amount or demand otherwise payable, within the specified time under the provision of this Act or the rules made or notification issued thereunder, such dealer or person shall be liable to pay interest on such amount at the rate of two per cent per month, for the period starting from the day immediately succeeding the date specified for such payment and ending with the day on which such payment is made.
(2) Subject to the provisions of sub-section (2) of section 70, interest under sub-section (1) shall be calculated –
(a) at the time of assessment under any section or in continuation of such assessment; and
(b) on payment including adjustment of a demand in full.
(3) The liability to pay interest under the provisions of this section shall also arise for a period which is less than a month.
