Late filing penalty
This query is : Resolved
06 August 2012
My Company was liable to file return Quarterly under Maharashtra Sales tax Act, which i did not filed as this year we had NIL Purchase and Sales, so am i liable to Penalty though....
08 August 2012
Provision of penalty is applicable if you failed to pay any liability as it is a revenue loss to government. In your case No penalty would be attracted. However it is advisable to file Belated Nil Return.
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