21 December 2009
reproduced S.30(4) "Sec. 30 (4) If ,- (a) after the commencement of,- (i) audit of the business of the dealer in respect of any period, or ..... .....the dealer shall be liable to pay by way of interest, a sum equal to 25 % of the additional tax payable as per the return or, as the case may be, revised return."
kindly tell, with source of info., if possible 1) if audit as mentioned above means MVAT audit only, or any other audit under companies act, IT Act, etc.
2) is 25% calculated straight forward without taking into account the period i.e return date to date of filing of revised return?