Sir, 

one of my client has not filed VAT return from april 2015 till today.  what will be the penalty and interest if he has  no tax payable. (iUpto  December Rs. 12,000 input credit  )  

 

the department has put penalty Rs.  50 each day , total Rs. 35,000.  but it should be Rs. 250 or Amount of tax payable whichever is higher.   Can I reduce the penalty to Rs.250 on this basis.

 

suggest me some other points to reduce the penalty.

 

Thanking you,

Posted 1 year, 9 months ago by Manjula Navale


Section 72(3) sets penalty if return filed is incorrect or incomplete. You mentioned that assessee has not filed return.

Since assessee has not filed return, question of section 72(3) does not arise. VAT people are funny, believe me.

You are liable for penalty for Rs. 250 only under section 72(1).

Posted 1 year, 9 months ago by Rahul Rai


Thank you very much.

 

Posted 1 year, 9 months ago by Manjula Navale


Sir

penalty of Rs. 250 as whole  upto December or Rs. 250 for each month.

Thanks in advance 

Posted 1 year, 9 months ago by Manjula Navale


250 for each month.

Posted 1 year, 9 months ago by Rahul Rai


Ok sir, 

 

Thank  you

Posted 1 year, 9 months ago by Manjula Navale


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