With effect from 01.04.2015 the rate of interest under WBVAt on delay payment of tax is as follows :-
|Sl. No.||Period of delay for which interest is payable||Rate of interest|
|1||Up to the first 90 days||1 % per month|
|2||After the first 90 days and up to 300 days||1.5 % per month|
|3||After the first 300 days||2 % per month|
Earlier to 01.04.2015 the Rate of Interest was 12% per annum.