Business operations are closed since april 20th 2010.under force major conditions(local tribals political unrest)
There is a vat liability of rs 4 lac for quarter apr-june.
can the vat return be filed without paying the vat amount now.?
can vat be carried over as liability and paid later on reopening of business
if not then
can the vat return be delayed beyond oct30st considering the conditions under which business is closed.
You just have to bear the penalty for late filling of Vat Return only and Interest on late depositing of VAT amount also.
You can not fill your vat return without depositing the VAT Payable amount.
YES U CAN FILE YOUR VAT RETURN WITHOUT PAYING YOUR VAT AMOUT BUT U WILL HAVE TO PAY INTEREST @ RATE OF 18% p.a. FOR THE VAT LIABILITY TILL YOU PAY THE AMOUNT..
CAclubindia
