Cst penalties
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 May 2013
Dear sir,
Please let me know what is the percentage of interest and penalties charged by the Sales Tax department, if we do not able collect the C forms.
Please reply back at the earleist.
Please let me know what is the percentage of interest and penalties charged by the Sales Tax department, if we do not able collect the C forms.
Please reply back at the earleist.
28 May 2013
The assessing authorities are presently levying interest as per section 9(2-B) of the CST act. The percentage of interest is based on the local vat law of that state. However i am of the strong opinion that NO interest could be levied since the TAX DUE is determined pursuant to the assessment order passed. Hence the date of passing the order and issuing demand notice is the date when tax is due for payment and never before. Hence no interest shall be payable. refer. abhinav systech private limited. Karnataka Tribunal. and BHEL case. of Karnataka tribunal. Also refer. Jalpac India. Uttaranchal HC, Maruti wire industries. (SC). J K Synthetics case. COnstitution bench,
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Unregistered suppliers utility
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- ITR 4 and Bank transactions
- TDS AND ITR ISSUE
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
