TMI BlogProcedure for Voluntary Disclosure of Tax Deficiency u/s 87(6) of the DVAT Act 2004.X X X X Extracts X X X X X X X X Extracts X X X X ..... Procedure for Voluntary Disclosure of Tax Deficiency u/s 87(6) of the DVAT Act 2004 . 1. Section 87(6) provides for automatic mitigation of penalties and reads as under: If- a person is liable to pay penalty under section 86 of this Act : and b. the person voluntarily discloses to the Commissioner, in writing, the existence of the tax deficiency, during the course of proceedings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Act. Under Rule 26(1) of the DVAT Rules, 2005 , the tax period for all the dealers shall be a quarter subjected to sub-rule (2) of rule 26 . Further, under Rule 2(3)(d) quarter means the periods of three calendar months- (i) April 1 to June 30; (ii) July 1 to September 30; (iii) October 1 to December 31; and (iv) January 1 to March 31. 4. To avail the benefits of automatic miti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... book of account shall file revised return u/s 28 of the DVAT Act , for the earlier tax periods in which un-vouched/unaccounted sale is admitted. 7. In such a scenario the need for default assessment of the dealer consequent to survey will not exist if the Assessing Officer (Enforcement) is satisfied with the revised return. This issues with the prior approval of Commissioner, Value Added T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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