03 February 2012
Can any one tell me the Due date for filing a Revised VAT & CST Return ?? As i filed a VAT & CST Return on 21.01.12 and later i discovered some amount has been wrongly stated. Now i wants to Revised VAT & CST Return both ? Normally, what will be the time limit for filing the Revised VAT & CST Return, Whether it attracts any penalty ? If yes, then what will be penalty amount ?
03 February 2012
In Karnataka, the revision of VAT return is allowed upto 6months from the due of filing the original return.
Should there be any additional tax liability interest @ 1.5% per month penalty @ minimum 10% upto 50% of the tax due can be collected at the discreation of the officer.
CAclubindia
