Dear All,
I need a help with regard to sales tax.
A Company had sent Goods from Bangalore to its branch office in Vishakapatna as Stock Transfer. The goods carrier was carrying only the Stock Transfer Invoice and Lorry Receipt. At a check post near Bangalore the goods were stopped and the check post officer contended that there was non-compliance because Form.VAT 505 is missing and has levied a penalty by issuance of notice.
Now at this threshold the Company immediately in no time managed to get the Form VAT 505 and is about to submit before the check post officer.
Now my question is that by submitting Form VAT.505 whether the penalty can be escaped or is there any other way out to be free from the penalty.
Regards
Harish
CAclubindia
