07 December 2013
This offence is to be dealt under Sec 72 of KVAT Act,in Karnataka,which imposes 10% penalty and interest @ 2%/pm.Generally it is not taken seriously like in the case of tax payers.Even if it is delayed,do the tds and pay to the govt immediately. In other states the penalty and interest may vary.....mjk
07 December 2013
This offence is to be dealt under Sec 72 of KVAT Act,in Karnataka,which imposes 10% penalty and interest @ 2%/pm.Generally it is not taken seriously like in the case of tax payers.Even if it is delayed,do the tds and pay to the govt immediately. In other states the penalty and interest may vary.....mjk