Is filling of returns necessary even though below limit...

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2011 we are a SSI and we hv ST reg no. as GTA...
we are service recieptants...bt our taxable services were approx. 2lacs per year..so we hvn't filled any returns after sept,07...and as a results we were sent notice by ST department...for non filing of returns....
but master circular says that if below no NIL returns are to be filled...

What is d solution, can anybody suggest..???

CA Debasish Banerjee

CA Debasish Banerjee (Expert)
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02 February 2011 If your turnover is below the taxable service you are not required to collect and deposit tax and in such cases if one desires to be free from all obligations of the Act then they should also surrender the Registration Certificate. You were suppose to submit return since you had not cancelled your registration. A nil return is required to be submitted claiming exemption.

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Querist : Anonymous

Querist : Anonymous (Querist)

02 February 2011 thank u sir....but cant i file any plea....
i am required to pay penalty of Rs. 2000/- per return for 7 returns...that is a sum of Rs.14000/- which is too much....
what shall i do..???

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CA Debasish Banerjee

CA Debasish Banerjee (Expert)
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03 February 2011 Ignorance to start with.. but the law is very straight forward in this regard. It will all depend on the person you are dealing with.. the rest is your ability to solve issues

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Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2011 thanks so much sir..!!!