Vat Return

Disadvantages:


A person who fails to register for DVAT may have to pay the penalty of Rs 1,000 per day up to a maximum of Rs 1 lakh. If one fails to furnish DVAT return by due date, he or she may have to pay the penalty of Rs 200 per day up to a maximum of Rs 50,000.
If a registered dealer fails to maintain accounts and keep records in the proper manner, he or she may have to pay a penalty of Rs 50,000 or 20% of tax deficiency – whichever is greater.
To know more about legal aspects of DVAT violation, contact tax experts at

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