Mvat cst liability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 March 2014 We have not recd. the C form for the F.Y.2009-2010 of parties amounting to Rs.12,450/-. As the case is pending with the STO I want to know what amt. of Interest to be paid on above amount. How to calculate CST differential liability in above case? Pls. suggest.

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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11 March 2014 You have to calculate interst @1.5%/pm,from the month it due to be paid.In many states there is a pwnalty provision of 10% on the tax also. If the difference in payment was 48 months back,then the interest will be 12450x1.5x48/100=8964 plus penalty10% and total additional liability is8964+1245=10209.......mjk

Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2014 Thanks Sir, The above case is of MVAT. So pls. let me know what penalty can be imposed by our STO.

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