Penalty for non issue of c form

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Querist : Anonymous

Querist : Anonymous (Querist)

07 April 2016 Is there any Penalty for non issue of C-Form? How should it be dealt with? Please guide!!

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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07 April 2016 Party will charge difference tax by giving you debit note.

Querist : Anonymous

Querist : Anonymous (Querist)

07 April 2016 Is there any interest or penalty on it other than the differencial amt?

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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07 April 2016 Yes, When party will assessed by VAT Dept. they will calculate interest on difference amount upto the assessment which party will debited you account. I don't think penalty will track due to non issuance of C Form. Party will managed it.

Querist : Anonymous

Querist : Anonymous (Querist)

07 April 2016 How much Interest (I mean Percentage) will be charged?

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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07 April 2016 I think its near around 1.5% PM.

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Querist : Anonymous

Querist : Anonymous (Querist)

07 April 2016 Thanks a lot for the valuable information!!!

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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