Sales Tax Audit
hussain
(Querist) 14 July 2010
This query is : Resolved
Sir
In Sales tax audit for the year 2006-07 the officer as find that there is a diffrence in stock as per return calculation and the diffrence amount is Rs :- 93297/= the officer is calulating this amount means 93297 * 4 and then on Rs : 373188/= on this amount 4% tax will be charged to party sir i want know that on diffrence amount will be charge 4% tax and after that the tax amount will be multiply into 4% as a penalty.which will be right sir please reply me.
Thnaking You
AMIT BAJAJ ADVOCATE
(Expert) 14 July 2010
To know the mode of calculation of penalty i.e whether the sale amount is to be multiplied four times or the tax is to be multiplied four times, you will have to refer to the language of the section of the relevant state vat act under which such penalty is levied.
You can post here the exact language of the section here so that experts can help solve your querry and correct interpretation of law can be done.
soumitra basu
(Expert) 01 August 2010
State Vat Act has to be properly consulted.
