21 January 2010
A dealer has started his business in January 09. He has Not registered himself under the MVAT Act. But has Collected tax from the first bill onwards. (i.e. Without TIN No.) He is ready to pay the tax collected wrongly.. I want to know whether any Penalty is attacted to him by the department...?
26 January 2010
An URD dealer has no right to collect VAT and if he does, same is liable for forfeiture and Authority can impose same amount of penalty as collected by the URD Dealer.
CAclubindia
