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TN VAT - Penalty and Interest

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ANY ONE CAN SAY THE PENALTY FOR TN VAT DELAY IN FILING THE MONTHLY RETURNS

Replies (7)

Rs 100 in Guj Vat

100 rs. per day as ;per dvat

As per section 71(1) (a) of TNVAT Act, if an assessee fails to file his return he shall be liable to fine which may extend to Rs. 500. Further he shall pay interest @ 1.25% per month of part thereof on tax payable

Under Tamilnadu VAT: -

Every registered dealer who is liable to pay tax under sub-section (5) of section 3 shall file a return
in Form J on or before 20th of the succeeding month to the assessing authority in whose jurisdiction his principal place of
business or head office is situated. Such return shall be accompanied by proof of payment of tax

I AM WRONGLY TAKEN INPUT IN THE MONTH OF DECEMBER 2010 DUE TO THIS I MADE SHORT PAYMENT OF RS.7000/- NOW FIND THIS MISTAKE. PLEASE TELL HOW MUCH INTEREST I WANT TO PAY ANE HOW MUCH PENALTY I WANT TO PAY?

if i will delay pay of the tamilnadu vat then interest payble and if delay return filing the how many interest and penalty payble

 

I AM WRONGLY TAKEN INPUT IN THE MONTH OF JULY 2013 DUE TO THIS I MADE SHORT PAYMENT OF RS.4540/-( WRONGLY TAKEN INPUT CREDIT ON CAPITAL GOODS) NOW FIND THIS MISTAKE. PLEASE TELL HOW MUCH INTEREST OR PENALTY OR BOTH WE WANT TO PAY?


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