interest U/s 30(4)
This query is : Resolved
SUNEET V.MAHALE
(Querist)
23 January 2010
1) Is interest U/s 30(4) to be levied only if there is a departmental verification or business Audit or issue of notice or intimation in this respect and a revised return has been filed thereafter by the dealer in response to findings in the inspection or audit with additional liability.
or Whether the Audit mentioned in the section includes audit under section 61 and that if the dealer has revised the returns before the vat auditor takes up the vat audit and pays the additional liability where both the tax auditor and the vat auditor are the same person.
in the above case if there is additional liability which is paid and the dealer has revised the returns and the vat auditor has verified such revised returns filed for the purpose of audit whether interest u;s 30(4) is applicable and should the auditor advice the dealer to pay the same.
or Whether the Audit mentioned in the section includes audit under section 61 and that if the dealer has revised the returns before the vat auditor takes up the vat audit and pays the additional liability where both the tax auditor and the vat auditor are the same person.
in the above case if there is additional liability which is paid and the dealer has revised the returns and the vat auditor has verified such revised returns filed for the purpose of audit whether interest u;s 30(4) is applicable and should the auditor advice the dealer to pay the same.
CA Deepak P. Agrawal
(Expert)
25 January 2010
Interest U/s.30(4) does not cover Audit u/s.61 for sure.
Regards
Regards
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