30 June 2013
Dear experts, In case dealer voluntary registered himself under Vat Act. but after registration he discountinue from his business without any transaction. and neither he cancelled his registration nor file his nil return for f.y.12-13 till now. now dealer received a notice of demand which contain assessment order under best judgement under section 23(1) and notice contain period of default of first quarter of that financial. year. now dealer what should do?
01 July 2013
You have not mentioned which STATE VAT Act. You must have submitted NIL return for the entire period.
Now, you have to submit reply to notice stating that you have discontinued the business without any transaction. And therefore to drop the proposal of levying best judgment proceedings. Is there annual return formality in your State VAT Act? If so, with the permission of your jurisdictional vat authority, try to file a nil annual return.
You have to submit another letter seeking cancellation of RC registered by you, at least now.
CAclubindia
