TaxTMI 
TaxTMI 
Nil Return not File
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....il Return not File<br> Query (Issue) Started By: - Jubin Desai Dated:- 11-12-2016 Last Reply Date:- 20-12-2016 VAT + CST<br>Got 11 Replies<br>VAT / Sales Tax<br>Hi All, I have just taken a Pvt Ltd name from some1, vat & Cst number in this company was taken in 2014 but due to no business activity till now the earlier onwer had not file even nil return of Vat & cst.. my question is if I start u....
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....sing this number for my trading business purpose, will there be any chance of penalty for not filing nil return for last 3 years??? if yes what will be the amount ?? Reply By Ganeshan Kalyani: The Reply: VAT is a State subject . the rule is different in different states. in most of the states the rule states that even if there is no transaction nil return is supposed to be filed . the normal pe....
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....nalty if there is no transaction and no return is filed is 5 thousand . but still you need to refer to particular state where you are going take over the busines. Reply By MARIAPPAN GOVINDARAJAN: The Reply: Which State? Reply By Jubin Desai: The Reply: Maharashtra Reply By Ganeshan Kalyani: The Reply: Penalty of ₹ 5000/- per return is applicable for not filing the retun. Reply By MARI....
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....APPAN GOVINDARAJAN: The Reply: Shri Desai, whether you have got cleared on the explanation of Shri Ganeshan Reply By Jubin Desai: The Reply: is there possibility to pay the penalty in one show cause notice & only 20k as a total penalty ? Reply By Ganeshan Kalyani: The Reply: If there is no business then you may appeal to the assessing authority to drop the penalty demand . Reply By Jubin ....
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....Desai: The Reply: yes there was no activity done from the date of taking the number till date Reply By KASTURI SETHI: The Reply: In Central Excise, it is monthly return. Last date 10 th of the following. Annual Return is also to be filed. Reply By MARIAPPAN GOVINDARAJAN: The Reply: The filing of Annual Return in respect of Central Excise is dispensed with for this financial year. Reply By KA....
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....STURI SETHI: The Reply: Sir, I remained out of touch for three months. Pl. let me know notification no. or circular no. whereby submission of Annual Return has been dispensed with for this year. Thanks a lot.<br> Discussion Forum - Knowledge Sharing ....