hi,
is there any monetary penalty if NIL return of VAT is not filled before due date ??
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Nil return not filled before due date
Replies (2)
The submission of nil return is compulsory. but there is not penalty or interest for the non-submission of return
There is a penalty of Rs.5,000/- for non-filing of return. However, u can meet the officer of your area and request him to drop the peanlty and if he is satisfied with your reasons for non-filing than he will waive the penalty
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