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Penalty for non issue of c form

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 April 2016 Is there any Penalty for non issue of C-Form? How should it be dealt with? Please guide!!
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
07 April 2016 Party will charge difference tax by giving you debit note.
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Querist : Anonymous

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Querist : Anonymous (Querist)
07 April 2016 Is there any interest or penalty on it other than the differencial amt?
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
07 April 2016 Yes, When party will assessed by VAT Dept. they will calculate interest on difference amount upto the assessment which party will debited you account. I don't think penalty will track due to non issuance of C Form. Party will managed it.
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Querist : Anonymous

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Querist : Anonymous (Querist)
07 April 2016 How much Interest (I mean Percentage) will be charged?
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
07 April 2016 I think its near around 1.5% PM.
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Querist : Anonymous

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Querist : Anonymous (Querist)
07 April 2016 Thanks a lot for the valuable information!!!
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
07 April 2016 Welcome Dear....!!!
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