What is the penalty for filing a sales tax return beyond the prescribed period?

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1. Guest2137
   

   If a return is not filed within 15 days after the end of the relevant tax period, a registered person will be liable to a penalty besides additional tax at the rate of Rs 100/- per day. If the delay is beyond 15 days , a penalty of Rs. Five Thousands is payable. If a registered person fails to deposit the correct amount of tax for two consecutive months he/she will be deemed to have committed a tax fraud for which the penalty is Rs. 10,000 or five percent of the amount of tax involved, whichever is higher, besides prosecution. If full amount due is not paid, any outstanding balance will also attract additional tax and a penalty.

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