Penalty for non-submission of Form 'C'
This query is : Resolved
08 September 2008
Dear Sir,
Under Punjab Vat last date for submission of Form 'C' was 30.06.08 for 2006-2007 year. The forms received from clients were submitted in time alongwith the list of forms not received. But for those not received what is the penalty or interest apart from 6% balance C.S.T. to be paid?
Under Punjab Vat last date for submission of Form 'C' was 30.06.08 for 2006-2007 year. The forms received from clients were submitted in time alongwith the list of forms not received. But for those not received what is the penalty or interest apart from 6% balance C.S.T. to be paid?
19 September 2008
In case of non submission of C form, the sales will be taxed at (for FY 2006-07)at 10% or local rate whichever is higher. Accordingly, interest will be levied treating the entire tax was due in the tax period of sales.
Howevr, the ST can give you further time for submission of C forms.
Howevr, the ST can give you further time for submission of C forms.
19 September 2008
So what is the rate of interest? And how it should be calculated?
24 September 2008
It differs from state to state.
Please refer your local tax laws.
For further clarification, please go through section 9(2A)of the CST Act, which reads as under;-
"All the 2[provisions relating to offences, interest and penalties]
(including provisions relating to penalties in lieu of prosecution for an offence or in addition to the penalties or punishment for an offence but excluding the provisions relating to matters provided for in section 10 and lOA) of the general sales tax law of each State shall, with necessary odifications, apply in relation to the assessment, re-assessment, collection and the enforcement of payment of any tax required to be collected under this Act in such State or in relation to any
process connected with such assessment, re-assessment, collection or enforcement of payment as if the tax under this Act were a tax under such sales tax law."
Please refer your local tax laws.
For further clarification, please go through section 9(2A)of the CST Act, which reads as under;-
"All the 2[provisions relating to offences, interest and penalties]
(including provisions relating to penalties in lieu of prosecution for an offence or in addition to the penalties or punishment for an offence but excluding the provisions relating to matters provided for in section 10 and lOA) of the general sales tax law of each State shall, with necessary odifications, apply in relation to the assessment, re-assessment, collection and the enforcement of payment of any tax required to be collected under this Act in such State or in relation to any
process connected with such assessment, re-assessment, collection or enforcement of payment as if the tax under this Act were a tax under such sales tax law."
24 September 2008
Thanks for your help Mr. Agarwalla.
For the same matter I contacted Sales Tax Dept. and they informed that interest @ 0.50% from the end of every quarter for which the form is not received till the date of depositing the tax + penalty/interest is to be calculated.
For the same matter I contacted Sales Tax Dept. and they informed that interest @ 0.50% from the end of every quarter for which the form is not received till the date of depositing the tax + penalty/interest is to be calculated.
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
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- Management System (IMS)
- FTS Taxable under 115A
- Experts need help
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- EPF FULL & FINAL RULES IN 2026
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Gift Received from nonblood relative
- 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
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
