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Penalty for late registration under mvat

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 July 2013 hi Experts,

Kindly guide me what would be Penalty for late registration under Maharashtra VAT.?
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Hemant Kumar

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Hemant Kumar (Expert)
08 July 2013 If the application is not made in time, the dealer will be treated as unregistered dealer up-to the date of application. His registration will be valid from date application.He will be permitted to collect tax only from the date on which he has applied for registration. Tax collected during the unregistered period will be forfeited. He will also be liable for interest and penalty. Also vat credit available during the period will be denied.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
08 July 2013 Yes agreed.
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 July 2013 Sir,

What will be interest rate..
&
How to calculate penalty?

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