Non payment of tax
This query is : Resolved
19 August 2011
Dear experts
if dealer submit his return as nil in original but subsequently when he files revised return with tax liability with in three months whether he has to pay any penalty but he has calculated interest on tax @1.5% P M and he is paying tax with interst.
if dealer submit his return as nil in original but subsequently when he files revised return with tax liability with in three months whether he has to pay any penalty but he has calculated interest on tax @1.5% P M and he is paying tax with interst.
19 August 2011
Penalty will be not applicable as return is submitted with in time limit. However interest on tax will be applicable.
19 August 2011
but LVO is demanding for penalty what to do?
19 August 2011
Penalty clause based on the state Vat act. state to state differ. so refer your state VAT act penalty clause
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