A public ltd company sold Tender forms and collected vat on such sales without getting registered under the act. It sold tender forms for about 5 months i.e. from July 2009-Dec 2009 and collected vat on them. After dec 2009, it dednt sell any forms. They didnt remit the vat so collected and also didnt file monthly returns too. During feb 2010, it got registered under the act and now it wants to file the return as well as pay the taxes that were collected till dec 2009. Wat form should the company file and wat are the consequences the company might face?
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urgent.......tn vat
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They have to pay all taxes before getting registration under VAT with penalty with consulting the concerned Authority.
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