TaxTMI 
TaxTMI 
Under orissa value added tax penalty is imposed at Rs.100 per day for non filing of audited accounts by the assessee which i feel is very harsh and needs to be modified is there any case law on this issue which decided against the department
PENALTY UNDER ORRISA VAT ACT
24 Dec 2012 
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Penalty for non-filing of audited accounts under Odisha VAT criticized as harsh, stakeholders invited to submit views.
The issue concerns the penalty under the Odisha Value Added Tax that levies a fixed daily monetary sanction for failure to file audited accounts; practitioners deem the provision unduly harsh and seek modification. The tax administration has solicited stakeholder views on OVAT Act provisions, including penalty rules, providing an administrative consultation route for potential reform or clarification of enforcement policy. (AI Summary)
The issue concerns the penalty under the Odisha Value Added Tax that levies a fixed daily monetary sanction for failure to file audited accounts; practitioners deem the provision unduly harsh and seek modification. The tax administration has solicited stakeholder views on OVAT Act provisions, including penalty rules, providing an administrative consultation route for potential reform or clarification of enforcement policy. (AI Summary)