Do i need to pay seperate penalties for both MVAT and CST return for Quarter ending 30/09/2014. What is the total amount of penalty i need to pay. Also if the return (both MVAT and CST) is nil, do i need to pay Penalty?
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Penalty for late filing of mvat and cst returns
Replies (1)
Dear Milan,
You have to pay Late Fee of Rs. 5,000/- for late filing of Returns for both VAT & CST. If your tax liability is NIL, then you might not be liable to pay interest, but if you have tax liability then you have to pay interest @ 1.25% per month from the due date.
Regards,
Ronak.
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