Non payment of mvat liability

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Practicing CA (Querist)
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20 October 2011 The assessee covered by section 44AB has filed return of Income before 30/09/2011, ie due date, but failed to discharge his MVAT liability before 30/09/2011, what will be the effect on his Audit Reports under Income Tax Act? and MVAT Act?

CA Dileep Surya Kumar

CA Dileep Surya Kumar (Expert)
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21 October 2011 yes, auditor has to report the same in form 3CD clause 21(i)B b , for your ref. reproduced below

21.(i) In respect of any sum referred to in clause (a),(b), (c), (d), (e) or (f) of section 43B, the liability for
which;
(A) pre-existed on the first day of the previous year but was not allowed in the assessment of any preceding previous year and was

(a) paid during the previous year;

(b) not paid during the previous year;

(B) was incurred in the previous year and was

(a)paid on or before the due date for furnishing the return of income of the
previous year under section 139(1);

(b) not paid on or before the aforesaid
date.
* State whether sales tax, customs duty, excise duty
or any other indirect tax, levy, cess, impost etc. is passed through the profit and loss account.

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