Can penalty amount be adjusted

This query is : Resolved

Guest

Guest (Querist)

15 December 2013 If Vat return is late filed say Qtr-1, then there is imposition of penalty of Rs. 5000/- for late filing of vat return. My question is can this amount of penalty paid be adjusted against vat amount payable of next Qtr. please explain.

Shriram Gupta

Shriram Gupta (Expert)
Follow

15 December 2013 Dear Prjakta,
First thing keep in mind that Penalty paid on non-compliance of any law is not adjustable..
Secondly if we talk about Maharashtra Value Added Tax, a dealer filing return late has to pay penalty (LATE FEE) of Rs.5000...
The word in bracket is late fee.. it is because penalty can be waived off if sufficient cause is shown to the adjudicating authority but since now it is late fee It can not be waived off..
So it will not be possible to adjust the penalty paid..

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Jeegar Valera

Tia Blair

Sabareesan S Venkatesh

kambamcr@gmail.com

Nithish Kothari

Subscribe Now

Can penalty amount be adjusted

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

GST CONSULTANT

CA Final

Manager- Finance and Compliance

GST CONSULTANCY

Accountant