Registered under wb vat act

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 August 2012 I AM REGISTERED UNDER WB VAT ACT HAVING PROPRIETORSHIP FIRM.MY ACCOUNTS ARE NOT KEPT IN MY OFFICE AS THOSE ARE KEPT IN ACCOUNTANTS OFFICE GIVEN ON CONTRACT BASIS. SALES TAX INSPECTORS DEMAND ACCOUNTS IMMEDIATELY ON THEIR VISITS TO MY OFFICE. I WANT TO KNOW WHAT ARE THEIR POWERS AND WHETHER THEY CAN INSPECT MY ACCOUNTS.IF I FAIL TO PRODUCE ACCOUNTS WHAT THEY CAN DO. CAN I GET TIME FOR PRESENTATION OF MY ACCOUNTS.

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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16 August 2012 Mr Author,
The general rule under all VAT Acts is that a registered dealer should maintain correct and true accounts and keep in his place of business. Most of the time the traders avoid this it is not taken very seriously due to some practical problems.A person of the rank of a Sales Tax Officer and above only can be assigned to seek production of books of accounts.They can ask you to produce your books of accounts and also verify all your stock and other papers avilable in your shop. Penalties and prosecutions are provided in the law for non compliance....MJK