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TNVAT ACT 2006- SECTION 41

VAT and Sales Tax - Started By: - BADRINATH VINAYAKARAO - Dated:- 27-11-2015 Last Replied Date:- 28-11-2015 - Under Tamilnadu VAT, sec41- emphasis on forfeiture of tax collected. Here the threshold limit for taxation is 10 lakhs, If the dealer had less than 10lakhs turnover then the sum so collected shall be remitted to the Governemnt and forfeited. To this extent it is clear. But in section 41, it continues as the sum so collected shall be remitted to the Governemnt and forfeited, AFTER DEDUCTI .....

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