The Department of Sales Tax, Maharashtra State has issued a Circular No. 1T of 2014 dated 4th January, 2014 stating that –
In absence of amendment to Rule 58(1) and Rule 58(1A), it may not be possible to complete the audit of developers and thus in view of the same, it is administratively decided that if an Audit Report in Form 704, pertaining to developer for the period 2012-13, is filed within one month from the due date i.e. on or before 15th February, 2014, then penalty u/s 61(2) shall not be imposed.
To download the Circular
In absence of amendment to Rule 58(1) and Rule 58(1A), it may not be possible to complete the audit of developers and thus in view of the same, it is administratively decided that if an Audit Report in Form 704, pertaining to developer for the period 2012-13, is filed within one month from the due date i.e. on or before 15th February, 2014, then penalty u/s 61(2) shall not be imposed.
To download the Circular
http://mahavat.gov.in/Mahavat/MyFold/KNOWLEDGE%20CENTER/TRADE%20CIRCULARS/DateWise/KNOW_TRADEC_DW_MVAT/KNOW_TRADEC_DW_MVAT_01_04_14_5_4_47PM.pdf
Category: CA VANDANA DODHIA
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