Tin not filed

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Bhaskar K (Querist)
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04 June 2016 Hi

I was running a business with having tin no...since I have loss in business. I have closed the business retaining tin..which not used to submitted sales every month..today I got msg like

TIN: xxx - Failed to file return Apr-16. Pl file & pay tax & interest @1.5% PM within 10 days to avoid higher penalty/prosecution & disruption of services to you. - LVO 120 - Bengaluru
Pls suggest what to do

Waiting for reply

CA Pracheta Shirish Deshmukh

CA Pracheta Shirish Deshmukh (Expert)
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04 June 2016 Mr Bhaskar, Though you have closed down the business, you are still liable for the vat return penalty of Rs. 5000 as you have not filed the vat return which was compulsory. As per Maharashtra Value Added Tax Act, 2002, if the dealer closes it business, he has to intimate to Sales Tax Department within 14 days of its closure. Application for cancellation should be made by form 103. In case of Vat payment, Interest and penalty thereon, you need to show the Sales Tax Officer that you have not made any transactions. It is best to show them both your Current Bank Statements and Savings.

Bhaskar K

Bhaskar K (Querist)
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04 June 2016 If I leave like that what will be the conclusion...is some one visit my place or how is that..any how I am trying to contact my auditor..thanks for reply ...

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