Non payment of mvat liability
This query is : Resolved
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?
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.
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.
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- ADVANCE PAYMENT OF ADVOCATE
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- TDS Deducted AY-2013-14 Not Reflected in 26as
- CREDIT NOTES WITHOUT GST
- Filling ITR - U
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
