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Vat

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(Querist)
20 August 2013 we are failed to file vat returns for more than 4 months to karnataka commercial taxes .if we delayed further what are the consequences? please guide me....
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CA. RAVIKUMAR

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CA. RAVIKUMAR (Expert)
24 August 2013 Hi Nagaraju,

1) penalty under section 72 ( including punishable with simple imprisonment which may extend to six months,)
2)Interest under section 36

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