18 December 2011
What is the liability of the selling dealer on furnishing fake/bogus statutory forms. pls. give citation of case laws also? What will happened if selling dealer acted bonafidely or having proofs of delivering goods,payment by cheque, gr, way bills etc.?
29 December 2011
Mr VK Gupta, There are rare cases on this point.Yet,he will be punishable under sec 10 of CST Act 56 with penalty interest and also imprisonment if his complicity is prooved. Prosecution can also be avoided by compounding the offence. Penalty 1 and1/2 the tax due and interest are unavoidable.
CAclubindia
