Sir,
We have obtained excise registration for our manufacturing company. The company could not be started and no work was done in it. We have not filed any excise return since there was no work. Please tell whether we were required to file nil return ? If yes then what should we do now and what will be the penalty for non filing of return. If no then under what section
Dear Sir,
yes, every assessee is required to file return.... and penalty would be 5000 in case of non-compliance. (rule 12 read with sec. 27)
Best Regards,
CA Lovely Arora
ca.lovelyarora @ gmail.com
Filing of return is mandatory even if there is no any transaction and maximum penalty can be imposed of Rs. 5000/-.
CAclubindia
