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Provision for penalty and interest on sales tax

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Guest

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Guest (Querist)
26 September 2014 Do we have to make provision for penalty and interest on sales tax in 2013-14 which is paid in 2014-15? Or the provision is to be made only for the interest on sales tax?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
26 September 2014 if the management is of the view the penalty cannot be avoided, you may follow conservatism principle and provide for the same
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Guest (Querist)
26 September 2014 Thank you Sir!
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
26 September 2014 you are welcome Tanvi...

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