10 March 2011
Dear Experts, There is a footwear business which is registered and the proprietor has not submitted the ST Returns for the past 5 years due to a major accident suffered by him. Even now the business does not have taxable income . What can be the consequences and please provide the remedies for settling the matter.Will the CST and VAT no. be cancelled? Please suggest . It is an urgent matter.
10 March 2011
If the Service Provider was Eligible for SSI Exemption under limits of Notification 6/2005 then u must apply to Comm. of Central Excise for Waiving the Penalty with The sufficient reasons and due application in this Context.
Since there was no loss to the Revenue , u may get away with the Same although it is Discretionary Matter.
13 March 2011
I think he is talking about sales tax not about service tax, in sales first of all we need to check first of all that if registrarion is active or not if it is cancelled then just reregister the firm and try to get money of securty back for canceled reg no. If this is in delhi i can help u more
CAclubindia
