Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: Central Excise rule to resale the machines to a new company :: form 3cd :: ACCOUNTING STANDARDS :: TDS :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: due date for vat payment :: empanelment :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4%
VAT (Value Added Tax) »
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part
 Cenvat Credit Rules, 2017 – Part I
 How much do you know about VAT as a taxpayer?
 New tax structure not higher than VAT
 Cos will be reimbursed for exemptions that currently exist in the VAT regime
 GST will get states more than VAT
 Is it a modified Value Added Tax?
 GST regime: VAT Commissioner and CBEC to work with businesses
 Amendments in the Second Schedule appended to the Act (Delhi Value Added Tax Act, 2004)

Regarding waiving off of penalty under the Amnesty Scheme.
September, 12th 2014
                       DEPARTMENT OF TRADE AND TAXES
                  VYAPAR BHAWAN, I.P.ESTATE, NEW DELHI-110 002

      No.F.3(399)/Policy/VAT/2014/PF/357-364                       Dated: 11/09/2014

                               CIRCULAR NO. 12 of 2014-15

      Sub: Regarding waiving off of penalty under the Amnesty Scheme.

               It has been noticed that penalty imposed u/s 86(15) is not waived of in
      case of some dealers who have opted Amnesty Scheme. Penalty u/s 86(15) is
      imposed for preparation of records and accounts in a manner that is false,
      misleading or deceptive. In some cases, maintenance of books of accounts may
      have resulted into creation of tax deficiency for which assessment u/s 32 may
      have been framed for tax and interest besides making penalty assessment u/s 33
      for the above said violation. If such dealers have opted the Amnesty Scheme,
      then penalty should be waived off on payment of tax, interest stated in notice of
      assessment issued in Form DVAT-24.

                However, if preparation of records/accounts does not result into any
      tax deficiency and only penalty has been imposed for preparation of books of
      accounts in a false, misleading and deceptive manner, then penalty cannot be
      waived off under Amnesty Scheme. In such cases dealer is not eligible to seek
      relief under the scheme.

               This issues with the approval of Commissioner Value Added Tax
      conveyed vide Diary No. 1308 dated 01/09/2014.

                                                                     (Sanjeev Ahuja)
     All Zonal Addl./Jt.Commissioners
     No.F.3(399)/Policy/VAT/2014/PF/357-364                         Dated:11/09/2014

     Copy for information to:
1.   All Spl./Addl./Joint Commissioners, Department of Trade and Taxes, GNCT of
     Delhi, Vyapar Bhawan I.P.Estate, New Delhi-02.
2.   The Registrar, VAT Appellate Tribunal, Department of Trade & Taxes, Vyapar
     Bhawan, I.P.Estate, New Delhi.
3.   The President/General Secretary, Sales Tax Bar Association (Regd.), Vyapar
     Bhawan, I.P.Estate, New Delhi.
4.   System Analyst (EDP), Department of Trade and Taxes, GNCT of Delhi, Vyapar
     Bhawan, I.P.Estate, New Delhi-02 for uploading the circular on the website of
     the department.
5.   Dy. Director (Policy), Department of Trade and Taxes, GNCT of Delhi, Vyapar
     Bhawan, I.P.Estate, New Delhi-02.
6.   All Assistant Commissioners/AVATOs Department of Trade and Taxes, GNCT of
     Delhi, Vyapar Bhawan, I.P.Estate, New Delhi-02.
7.   PS to the Commissioner VAT, Department of Trade and Taxes, GNCT of Delhi
     Vyapar Bhawan, I.P.Estate, New Delhi-02.
8.   Guard File.

                                                                      (Rajesh Bhatia)
                                                       Assistant Commissioner (Policy)
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions