Penalty under section 271B: turnover-based sanction subject to a statutory monetary cap on levy. The penalty is the lower of a percentage of total sales, turnover, or gross receipts and a prescribed monetary ceiling, so the charge equals the ... Summary
Penalty under section 271B: turnover-based sanction subject to a statutory monetary cap on levy.
The penalty is the lower of a percentage of total sales, turnover, or gross receipts and a prescribed monetary ceiling, so the charge equals the turnover-based calculation unless that exceeds the statutory cap, in which case the cap applies.
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