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VAT - Highlights / Catch Notes

Home Highlights July 2019 Year 2019 This

Escapement or under-assessment under KVAT Act - mistake in ...

VAT and Sales Tax

July 19, 2019

Escapement or under-assessment under KVAT Act - mistake in reporting purchase turnover - the authorities have not found any discrepancy in the sales figures returned, or any escapement of sales turnover which is taxable - filing of incomplete or incorrect return might have attracted penalization u/s 67 but alone cannot be used to make an addition in the turnover and to demand tax

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