20 December 2011
We had supplied to our customer at concessional rate of tax previous year. Now our customer says he will pay the difference tax amount.
Now my problem is should I ask interest and penalty also.
Will sales tax department levy interest and penalty if I remit the difference tax amount instead of Form C.
20 December 2011
Dear Friend, The payment of difference of tax will be claimed with interest as applicable and the penalty as imposed by the sales tax authorities according to the provisions of State VAT. You have to claim interest as well as penalty from your customers.
CAclubindia
