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Non submission & non filing of vat return

This query is : Resolved 
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(Querist)
09 August 2012 Dear Friends,

Can anyone tell penalty or remedy if assesse
has neither deposited sales tax(dvat) nor filed sales tax return since 8 years?
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MJ Krishnamurthy

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MJ Krishnamurthy (Expert)
10 August 2012 Ms Sumedha,
It is a huge problem awaiting for some one. If he is not registered also it adds to it.Note it as follows
1) For not registration so far,penalty upto Rs 1lakh.2) for not filing returns R10,000/-(for each monthly return.3)Penalty as sec89 up to rs 50,000/-(for each return.4) Interest @2%/pm(pl check up could be 1.5% also).5) Plus prosecution with fine and imprisonment(may be both).6)An investigation by intelligence officers who would add their own estimation of turnover and tax with interest and penalty.
See Secs 86 and 89 and others for further details. If caught,assessed and the levies are recovered the dealer will end up by paying taxes four times more than the actual amount due.....MJK
Profile Image

MJ Krishnamurthy

Profile Image

MJ Krishnamurthy (Expert)
10 August 2012 Ms Sumedha,
It is a huge problem awaiting for some one. If he is not registered also it adds to it.Note it as follows
1) For not registration so far,penalty upto Rs 1lakh.2) for not filing returns R10,000/-(for each monthly return.3)Penalty as sec89 up to rs 50,000/-(for each return.4) Interest @2%/pm(pl check up could be 1.5% also).5) Plus prosecution with fine and imprisonment(may be both).6)An investigation by intelligence officers who would add their own estimation of turnover and tax with interest and penalty.
See Secs 86 and 89 and others for further details. If caught,assessed and the levies are recovered the dealer will end up by paying taxes four times more than the actual amount due.....MJK
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