11 September 2008
Penalty For Late Filing Of VAT Return has Been Increased from 2000/- To 10000/- from 1.4.2008
Question is Whether this is appliacable for returns filed after 1.4.2008 but pertaining to earlier period or return filed after 1.4.2008 pertaining to periods 1.4.2008 and therafter?
Plz Clarify Since This is Specific Provision For Same?
15 September 2008
It is prospective in nature and therefore from 1.4.2008. If there is a specific mention as to date of implementation, then from that date.
16 September 2008
In my opinion, such increased late fine will be applicable for returns due after 01/04/2008 only. However, to confirm, please read the amendment notification carefully. Please quote the notification, so that a proper interpratation can be made.
18 September 2008
You may approach higher authorities, seeking their interferance. You can also file one appeal. Whether any opportunity of being heard was provided?
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