Can I read DVAT Act: Automatic Penalty Mitigation on EtoBox?
DVAT Act: Automatic Penalty Mitigation by Sumeet Gupta is a document available to read on EtoBox.
What is DVAT Act: Automatic Penalty Mitigation about?
The document outlines the procedure for voluntary disclosure and automatic mitigation of 80% penalty under section 87(6) of the DVAT amendment Act 2013. It states that if a person discloses an existence of tax deficiency in writing during a proceeding under section 60 and pays the outstanding tax within 3 working days, they are eligible for an 80% reduction in penalties. It then details the 5 steps for voluntary disclosure which include admitting discrepancies found during survey, showing unaccounted sales
- Author
- Sumeet Gupta
- Language
- EN