One of my colleague registered himself as on 01st sept 2016 and has not paid return for the period Sept 16 to Dec 16. His return filing period is monthly.
His val liability is as mentioned below
Month Liability (- for refund)
Sept -1057 Oct 3222.96 Nov -860.44 Dec -1648.70 Net Refund upto Dec 16 -344.17
Please guide for below query 1. as there is liability of payment is only for the month oct 16, but net refund till dec 16 is Rs. 344.17, we have to pay the liability with interest or without making payment can adjust the same in the month of Nov and dec. 2. Whether we have to pay the the penalty for the the delayed month which arises around 30000/-
20 January 2017
If VAT Return is monthly than you can not adjust October payable, you have to pay liability, penalty and interest vary from state to state, you have not mention which state?
CAclubindia
